Oil prices rise as Iran proposes tighter control over the Strait of Hormuz. Crude oil reaching a new all-time high by December 31 at 11.5% YES.

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 considers blocking US and Israeli ships in Hormuz, causing oil prices to rise. US charges in Hormuz by August at 1.8% YES, December at 8.5% YES.