Tensions in the Middle East escalated as the US Navy seized an Iranian ship, jeopardizing imminent ceasefire talks. Brent crude surged past $95 per barrel as markets reacted to the instability in a critical maritime chokepoint.
- First US seizure of an Iranian vessel in the Strait of Hormuz
- Brent crude prices pushed above $95 per barrel
- US equities and Treasuries trended lower
- Iran's erratic control of waterway traffic increases risk
- Ceasefire prospects now under significant doubt
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