U.S.-Iran war evolves into naval standoff over Strait of Hormuz after both countries seize ships

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The U.S. and Iran seized commercial ships from the Persian Gulf to the Indian Ocean this week, as they compete for control of the Strait of Hormuz during the ceasefire agreement.

Brent oil

, the international benchmark, has risen above $100 per barrel again as tanker traffic through the strait remains at a near standstill.

Two cargo vessels, but no tankers, have crossed the strait so far Thursday, according to ship tracking data from LSEG. At least nine tankers have transited the sea lane since Monday, the data showed.