Oil rises as uncertainty continues over reopening of Strait

Oil rises as uncertainty continues over reopening of Strait  Reuters

Vessels in the Strait of Hormuz, as seen from Musandam, Oman, August 3, 2026. REUTERS/Stringer 10 Aug 2026 06:17AM PERTH, Aug 10 : Oil prices rose on Monday as uncertainty continued over the reopening of the Strait of Hormuz as Iran said a deal with Oman defining new shipping lanes was in its final stages, but the U.S.

Oil extended gains on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, ​suggested banning vessels deemed hostile from the strait and heavily fining those which violated the proposed ‌rules.