The chair of Iran's parliamentary infrastructure commission has set out the detailed terms of a parliamentary proposal to manage transit through the Strait of Hormuz, including a complete ban on Israeli-linked shipping and tolls payable in rials. ... »»»

Oil prices climbed more than 5% while Asian shares also advanced Monday as a standoff between Iran and the US prevented tankers from using the Strait of Hormuz. The Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a US Navy blockade »»»