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

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

Brent crude surged 1.4 per cent to US$83.62 a barrel as at 8.24am, after jumping 4.9 per cent in the previous session. Read more at straitstimes.com. Read more at straitstimes.com.