Global markets reacted sharply as the US Navy boarded an Iranian-flagged cargo ship in the Gulf of Oman. The incident coincides with Iran's refusal to enter negotiations, raising fears of renewed conflict.
- US Navy seized Iranian-flagged ship in the Gulf of Oman
- Crude oil prices climbed on supply disruption fears
- US equity futures fell amid increased geopolitical risk
- Iran rejected invitations to negotiate in Pakistan
- Current ceasefire is scheduled to expire Tuesday
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