Iran is advancing a legislative proposal that would empower authorities to block vessels deemed 'hostile' from transiting the Strait of Hormuz, according to reports from CNBC and Livemint.
The measure, currently under review by Iranian lawmakers, signals a hardening of Tehran's stance on maritime security in one of the world's most critical energy chokepoints.
This development comes as spot gold prices pared earlier gains to trade flat, while crude oil benchmarks extended their upward momentum on the day.
The market reaction underscores the persistent sensitivity of energy flows to geopolitical friction in the Persian Gulf.
Brent crude and WTI rose as traders priced in the potential for further shipping disruptions or insurance premium hikes.
Meanwhile, gold, which had posted its largest daily gain since February earlier in the week, retreated from session highs as the immediate flight-to-safety bid cooled.