Ship seizure raises fears over U.S.-Iran ceasefire
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Concerns rose on Monday (April 20), after the United States said it had seized an Iranian cargo ship near the Strait of Hormuz, while Iran warned it would retaliate, putting the fragile ceasefire at risk.
The U.S. military said the Iranian-flagged vessel was intercepted as it moved toward Bandar Abbas, and President Donald Trump said the ship was in full U.S. custody.
Iran said the ship had been coming from China and called the seizure an act of piracy.
Hopes for a wider peace deal also weakened, as Iran said it would not join a second round of negotiations that Washington had hoped to begin before the ceasefire expires on Tuesday.
The standoff has added to pressure on global energy markets. The U.S. has kept its blockade on Iranian ports, while Iran has reimposed restrictions on traffic through the Strait of Hormuz, a key shipping route that normally carries about one-fifth of the world’s oil supply.
Oil prices jumped and stock markets turned uneasy as traders watched for further disruption to shipping in and out of the Gulf.
Reuters reported that Brent crude rose to about $96.49 a barrel and U.S. West Texas Intermediate climbed to about $90.38 on Monday.
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