Oil prices jump after Iran publishes restrictive draft plan for Strait of Hormuz - CNBC

Crude prices rose sharply Thursday, Aug. 6, 2026, after Iranian state media published a draft plan imposing restrictive conditions on ship traffic through the Strait of Hormuz, with Brent up 3.8% to close at $82.49 a barrel and West Texas Intermediate gaining about 2.8% to settle at $77.29.
The rebound followed an 8% drop earlier in the week, which came after Treasury Secretary Scott Bessent told CNBC on Tuesday that a deal to open Hormuz with freedom of movement could arrive as soon as Wednesday.
No agreement has been announced, though Iran and Oman are reportedly working on a plan to define transit routes, with inbound traffic passing through Iranian waters and outbound traffic through Omani waters.
The draft published by Iran's Fars news agency, currently under review by a parliamentary committee, would bar U.S. and Israeli ships, block other nations deemed to have harmed Iran until compensation is paid, and impose penalties on violators equal to 20% of a ship's cargo value.
Iran-allied Houthi forces in Yemen claimed Thursday to have attacked Saudi troop positions and said Wednesday they struck a Saudi tanker in the Red Sea off Yanbu, a terminal used to divert oil shipments.
A separate tanker reported hearing two explosions off Oman while transiting Hormuz, according to a Wednesday incident report from the UK Maritime Trade Operations Centre, which said the crew and vessel were safe.