Iran threatened retaliation after the seizure in the Gulf of Oman, and it wasn't clear whether Tehran would attend talks in Pakistan, with a ceasefire set to expire Wednesday.

Oil prices saw a dramatic shift after Donald Trump made a major announcement involving an Iranian vessel amid escalating tensions in the Strait of Hormuz. The development sent energy markets into another round of volatile trading as the ongoing conflict between the US and Iran continues to reshape global oil dynamics.

Oil prices are rising in early trading as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies

Oil prices have climbed more than 5% while Asian shares also advanced as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz

Brent crude oil futures rose sharply when markets opened Sunday night amid signs the US-Iran peace talks had stalled.

Oil prices climbed more than 5% while world shares were mixed Monday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz. The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a U.

Oil futures rose as uncertainty about U.S.-Iran talks hangs over the market after Friday’s short-lived reopening of the Strait of Hormuz.

Oil prices are rising in early trading as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz