Trump Extends Iran Ceasefire, Iran Seizes Two Ships
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- Trump extended the Iran ceasefire without a new deadline, maintaining a US port blockade until Tehran presents a unified proposal.
- Iran seized two ships in the Strait of Hormuz after the ceasefire extension, keeping the strait effectively closed.
- Oil prices rose to $100 a barrel before falling back, after reports of attacks in the strait, highlighting volatility.
- JD Vance scrapped a planned trip to Islamabad, delaying US‑Pakistan talks on the conflict.
- Jiajia Yang said market moves are driven more by expectations than barrel volumes, underscoring sentiment over fundamentals.
Why it matters: Oil importers gain from lower prices while shipping firms lose from seized vessels; the $100‑a‑barrel spike raises freight costs, tightening margins for exporters and prompting insurers to raise premiums.
