News of Iran's restrictive draft plan for the Strait of Hormuz sent oil prices higher, renewing concerns over supply disruptions.

Iran’s parliament is reviewing a draft plan to reopen the Strait of Hormuz, according to Iranian media. The proposal reportedly includes banning vessels from America, Israel and other “hostile” countries.

Khamenei has not been seen publicly since taking up the role, most notably failing to attend his own father’s public funeral proceedings in Tehran last month.

The conflict is broadening across the region, with Gulf energy infrastructure and key shipping chokepoints under renewed threat.

A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz.

A foreign ministry spokesman did not give details but said an agreement with the Gulf nation was "in the final stages".

Crude oil prices rose Thursday after Iranian state news published a draft plan with restrictive conditions for ship traffic in the Strait of Hormuz.

Iran’s parliament is reviewing a draft plan to reopen the Strait of Hormuz, according to Fars, an Iranian news site. The proposal reportedly includes banning vessels from America, Israel and “hostile” countries from transiting the waterway,

Iran’s leaders have perplexed several American presidents, perhaps none more than President Trump. By Michael Crowley Michael Crowley covers the State Department and U.S. foreign policy. He has reported from nearly three dozen countries.

SINGAPORE, Aug 7 (Reuters) - Shipping traffic through the Strait of Hormuz has dwindled to 33 vessels from Monday to Thursday this week, data showed, versus 50 in the week-ago period, as markets watched talks between Iran and Oman for signs of progress in reopening the key waterway.