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The seizure is an apparent escalation of a U.S. naval blockade, and comes after Iran fired upon commercial vessels transiting the Strait of Hormuz earlier on Sunday.
Source
CNBC
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Crude oil prices surged Sunday, as the U.S. and Iran teetered on the brink of a renewed war after attacks on commercial ships in the Strait of Hormuz.
Oil climbed, the dollar rose and US equity futures slipped as risk sentiment soured following a renewed flare-up in US-Iran tensions over the weekend and a continued standoff around the Strait of Hormuz.
Oil and natural gas prices soared after the US Navy seized an Iranian ship during a chaotic weekend that saw Tehran firing at vessels and reimposing controls in the Strait of Hormuz.
