Fars is reporting
- Iran is reportedly drafting a strategic plan that would restrict access through the Strait of Hormuz for vessels linked to the United States, Israel, and other countries it considers hostile.
-
Under the proposal:
- U.S., Israeli, and other designated “hostile” vessels would be prohibited from transiting the Strait.
- Ships connected to Israel, whether military or civilian, would be barred from passage.
- Vessels or cargoes supporting actions against the so-called “Resistance Front” would also be banned.
- Countries or entities accused of causing damage to Iran could be denied access to the Strait and the Persian Gulf until compensation is paid.
- Violators could face heavy fines of up to 20% of the cargo’s value, with cargo potentially subject to seizure.
- Iranian authorities, working with the military, would oversee navigation, vessel monitoring, and security in the Persian Gulf.
- The document is still in the expert review stage and has not yet become official policy.
According to the reported draft, Iran is considering a strategic plan that would significantly tighten control over transit through the Strait of Hormuz. The proposal would prohibit passage for vessels associated with the United States, Israel, and other countries deemed hostile, while also imposing restrictions on ships carrying cargo linked to actions against Iran or its allies. It further outlines potential financial penalties and cargo seizures for violators, with Iranian authorities and the military taking a larger role in managing navigation and security. Importantly, the plan remains under expert review and has not yet been formally approved or implemented, meaning its final scope and timing remain uncertain.
The price of oil has move d higher with the price now trading up $2.64 or 3.45% at $77.87. Looking at the daily chart the price of crude oil fell and closed below the 200 day MA the last two trading days. The price is back above that MA at $76.12. Getting and staying above that MA will tilt the technical bias back to the upside on the failed break. The 100 hour MA at $78.44 is the next upside target followed by the 200 hour MA at $80.67.
This article was written by Greg Michalowski at investinglive.com.