US Seizes Iranian Ship, Oil Surges 5% as Hormuz Closes Again

The Strait of Hormuz carried zero commercial tankers on Sunday, a chokepoint that normally handles approximately 20-30% of global seaborne oil, as the U.S.-Iran ceasefire approaches expiration on April 22 with no extension in sight. Peace talks scheduled for April 20-21 in Islamabad remain in doubt after Iran indicated it has “no plans for now […]