Iran says it has seized two ships in Strait of Hormuz after vessels attacked
Iran’s Revolutionary Guard just seized the Greek-owned Epaminodes and the MSC Francesca in the Strait of Hormuz after firing on them for ignoring warnings and running without proper permits. A third vessel was also targeted. This comes hours after Trump extended the two-week ceasefire, but the US blockade of Iranian ports is still in place and talks have stalled.
The strait handles a big chunk of global oil and LNG traffic. Even short disruptions here tend to push crude higher and slow down supply chains for everything from energy to consumer goods.
Energy producers with exposure to higher oil prices, such as ExxonMobil (XOM) and Chevron (CVX), could get some tailwind if this drags on. On the flip side, shipping and logistics companies that rely on smooth Gulf routes may see added costs and delays. Broader manufacturers and retailers with just-in-time parts from the region could feel ripple effects too.
Markets have been choppy on these headlines all week. Oil is holding firm near recent highs while equities try to price in whether this is a one-off or the start of something longer.
Anyone else tracking how this plays out tomorrow?