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Rising concerns are growing in global oil markets that the proposed conditions for reopening the Strait of Hormuz could further restrict shipping traffic. Iran, in coordination with Oman, has suggested imposing limits and fees on hostile vessels, which could impact a significant portion of global oil supplies passing through the strait. Oil prices temporarily increased after reports emerged that an Iranian parliamentary committee is reviewing a bill to ban the passage of hostile ships, with the possibility of imposing fines of up to 20% of the cargo's value on violators. As tensions escalate, Brent crude fell to around $83.34, but is on track to post weekly losses of approximately 8%, as the market continues to assess the potential risks of restrictions on navigation through this vital strait.
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