The US Navy has boarded and seized an Iranian cargo ship, marking the first seizure under the blockade of the Strait of Hormuz. The escalation casts doubt on upcoming peace negotiations in Pakistan as a ceasefire expires Tuesday.
- US Navy fired upon and boarded Iranian-flagged cargo ship
- First seizure since the US blockade of the Strait of Hormuz began
- Ceasefire set to expire this Tuesday
- Conflicting views from US and Iranian officials on peace talks in Pakistan
- Oil and USD prices rose while US equity futures declined
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