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

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

PERTH, Aug 7 : Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, suggested banning vessels deemed…