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MARKET UPDATE: Crude prices rise as Fars reports US and Israeli ships are banned under initial Hormuz framework

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Crude prices rose as Fars News reported a ban on US and Israeli ships under a new Iranian framework, conflicting with a proposed 60-day regional reopening plan.

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Details of the initial text of the strategic plan for managing the Strait of Hormuz: The passage of vessels belonging to the US, the Israelis, and other hostile countries through the Strait of Hormuz will be prohibited