Crude oil prices surged following the U.S. seizure of an Iranian vessel and renewed threats of military action. The S&P 500 retreated as prospects for a ceasefire extension between Washington and Tehran dimmed.
- U.S. seizure of Iranian cargo ship
- Tehran reverses stance on Strait of Hormuz openness
- Ceasefire extension deemed 'highly unlikely' by President Trump
- Deadline for truce expires Wednesday
- Potential for renewed U.S. bombing operations
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