Iran has captured two foreign commercial vessels in the Strait of Hormuz and moved them to its coast, in a further escalation that comes hours after United States President Donald Trump said he would extend a ceasefire with Tehran.

Hundreds of ships stuck in the Persian Gulf because of the Strait of Hormuz closure are now facing a new threat: scams promising safe passage through the critical waterway in exchange for money.

European gas prices climbed 2.4% as Strait of Hormuz blockade continues despite ceasefire extension. Iran seized two more ships near the critical waterway.

The energy industry is planning for a future where the choke point on Iran’s southern coast is a lot less important.

A semiofficial news agency close to Iran’s paramilitary Revolutionary Guard raised the idea again today that Gulf Arab states remain vulnerable to having their undersea data cab