Iran's parliament is reviewing a plan to ban ships linked to the U.S., Israel and other "hostile countries" from transiting the Strait of Hormuz. The Trump administration has rejected the plan.

A foreign ministry spokesman did not give details but said an agreement with the Gulf nation was "in the final stages".

U.S. officials have repeatedly insisted they would never agree to Iran controlling access to the world's most important trade route for energy supplies.

Iran says it’s in the final stage of drafting an agreement on the Strait of Hormuz waterway with Oman, while two Israeli soldiers have been killed in Lebanon.

The secretary of state said progress has been made in the Iran-Oman talks but that no final agreement has been reached, adding, "We're hoping that ‌will happen very ‌shortly."

Iran and Oman are nearing a proposed Hormuz framework, Tehran says, but the deal would not automatically reopen the waterway. Follow along for live news updates.

Oil Minister Tariq Al-Roumi announced that Kuwait is in talks with Saudi Arabia and other Arab states to establish a new crude oil export

By Ashitha Shivaprasad Aug 6 (Reuters) - Gold advanced for a fourth session on Thursday and touched its highest level in seven weeks, helped by a softer dollar and lower Treasury yields, on growing hopes over the Strait of Hormuz reopening.