Crude oil prices (Brent and WTI) rose on August 6 following Iran's proposal to ban US, Israeli, and allied vessels from the Strait of Hormuz, with penalties up to 20% of cargo value. Escalating tensions in the Red Sea (Houthi attacks on Saudi facilities) and Ukraine-Russia energy infrastructure attacks add upward pressure. Regional oil exports remain ~40% below pre-conflict levels, while Saudi Arabian shipments from Red Sea ports have fallen to 3M barrels/day from 3.8M.