Iran War Live Updates: Reported Ship Seizures Add to Anxiety in Oil Markets
“Oil prices surged above $100 a barrel after Iran seized two cargo ships near the Strait of Hormuz, escalating tensions in the region. The White House stated that President Trump does not view the seizures as a cease-fire violation, despite the ongoing blockade by the U.S. Navy.
Oil was hovering above $100 a barrel and there were no public signs of a breakthrough in peace efforts. The White House said President Trump does not view Iran’s reported seizures as a cease-fire violation.
Pinned
Oil was trading above $100 a barrel again on Thursday after Iranian forces claimed to have seized two cargo ships near the Strait of Hormuz, injecting fresh fear into energy markets with no public indications of a breakthrough in efforts to restart U.S.-Iran peace talks.
President Trump told Fox News on Wednesday that there was “no time pressure” on holding a new round of talks or on the cease-fire, and “no timeline” for ending the war. Karoline Leavitt, the White House press secretary, told Fox separately that Mr. Trump did not view Iran’s reported ship seizures as a violation of the cease-fire.
The reported seizures happened after the U.S. Navy prevented dozens of ships from leaving or accessing Iranian ports as part of a blockade ordered by Mr. Trump.
Iran has in effect blocked shipping through the Strait of Hormuz — normally a vital conduit for global oil and gas supplies. Energy prices have risen sharplysince the United States and Israel began the war on Iran in late February.
A summit aimed at reopening the strait was scheduled to reconvene in London on Thursday, with military planners from over 30 countries. Shipping companies are mostly keeping vessels away from the strait because of the risk of attacks.
On Wednesday, Iranian state media reported that Iran’s Revolutionary Guards Corps had targeted two cargo vessels — the MSC Francesca and the Epaminondas, a Greek-owned ship — because they were not following Iran’s rules for passing through the strait. Iranian news outlets reported that the Guards had fired on a third cargo ship.
Here’s what else we are covering:
Israel-Lebanon cease-fire: A second round of ambassador-level talks between the two countries was scheduled for Thursday in Washington. A 10-day truce between Israel and Hezbollah, the Iran-backed Lebanese militia, is set to expire on Sunday.
Journalists in Lebanon: Israeli strikes killed one journalist and wounded another in the country’s south on Wednesday, the Lebanese authorities said.
War powers vote: For a fifth time since the war began, Senate Republicans on Wednesday blocked a resolution to enforce Congress’s war powers.“
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