Daily brief
The United States seized an Iranian cargo ship, prompting Tehran to vow retaliation and casting doubt on ongoing peace talks. The seizure is part of a wider effort to pressure Iran-linked oil tanker shipping, and the Strait of Hormuz standoff has disrupted tanker traffic, causing oil prices to jump and stoking inflation concerns. Iran has reportedly rejected a second round of talks, and the move has also led to a rise in oil and gas prices due to concerns over regional stability.
Oil prices rose sharply, with Brent crude briefly surpassing $91 per barrel, after the US-Iran standoff in the Strait of Hormuz stranded tankers and stoked inflation concerns, while gold fell and US futures dropped.
Bangladesh raised fuel prices as the Iran war drives up costs, and the dollar pushed to a one-week high as US-Iran tensions reignited.
Iran arrested four people for allegedly importing Starlink satellite internet equipment, and ended talks on sending enriched uranium to the US.