Oil prices rose as Iran imposed stringent conditions for reopening the Strait of Hormuz and Houthi attacks intensified threats to Saudi energy infrastructure.

Iran tightens its stance on the Strait of Hormuz, causing oil prices to rise. Crude oil reaching a new all-time high by December 31 at 10.5% YES.

Brent crude prices rise as Tehran says critical waterway will not reopen without major US concessions.