Iran Seizes Two Container Ships in Strait of Hormuz Amid Ceasefire Extension

Iran's navy on Wednesday said it had seized two container ships in the strategically vital Strait of Hormuz, shortly after the U.S. extended the ceasefire and as diplomats seek to bring the countries together for peace talks. Iran's Revolutionary Guard Navy said in a statement that it had seized the ships for what it claimed were maritime violations and transferred them to Iranian shores, according to state media. CNBC could not independently verify the claim. The announcement came after U.K. maritime authorities said two ships had been attacked in the Strait of Hormuz. Iranian media reported a third vessel had also been targeted by the country's military. International benchmark Brent crude futures with June delivery traded 0.5% higher at $99.03 per barrel, paring gains after briefly surpassing $100. U.S. West Texas Intermediate futures with June delivery, meanwhile, traded up 0.5% at $90.13. The United Kingdom Maritime Trade Operations, or UKMTO, center said a vessel reported being fired upon about eight nautical miles off the coast of Iran at 8:38 London time (3:38 a.m. ET). The crew were reported to be safe and accounted for and the vessel did not sustain any damage, the UKMTO said, which also warned of "high levels of activity" in the Strait of Hormuz area. The incident followed an earlier report of an attack that took place roughly 15 miles northeast of Oman at 5:47 a.m. London time. The UKMTO said a container ship was approached by an Islamic Revolutionary Guard Corps (IRGC) gunboat. The IRGC ship was said to have fired upon the ship, causing "heavy damage" to the bridge. All crew were reported safe. The attacks come shortly after President Donald Trump said the U.S. would extend the ceasefire with Iran to allow for Iran's leaders to submit a "unified proposal" to end the war. This came after reports that Vice President JD Vance's trip to Pakistan for a second round of peace talks with Iranian officials had been put on hold, and after the Iranian state news outlet Tasnim reported that negotiators from Tehran would not attend further talks. The Strait of Hormuz is a key maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it. Attacks on commercial ships in the Gulf in recent weeks have ratcheted up fears of a prolonged economic shock.