Crude oil prices surged following the U.S. seizure of an Iranian cargo ship and Tehran's reversal on the status of the Strait of Hormuz. Markets are monitoring the situation as a two-week ceasefire nears expiration.
- U.S. seizure of Iranian cargo ship triggers oil price jump
- Iran reverses previous announcement regarding Strait of Hormuz openness
- U.S. negotiators arriving in Pakistan for critical talks
- Existing two-week ceasefire expires this Wednesday
- S&P 500 futures decline slightly amid geopolitical uncertainty
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