Stock markets have not reacted as fiercely as they did at the start of the conflict amid belief US-Iran talks may resume

President Donald Trump said he ordered the U.S. Navy to find and interdict any ship in international waters that has paid a toll to Iran to transit the strait.

The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.

Asian stocks fall as naval blockade threat injects new turmoil into financial markets.

US Navy to impose blockade today in bid to choke off flow of Iranian oil

Stock markets have not reacted as fiercely as they did at the start of the conflict amid belief US-Iran talks may resume

Oil prices have been rising as shipping through the strait has essentially stalled since late February.

The price of oil again climbed over the $100-per-barrel threshold on Monday after President Donald Trump announced a blockade on the Strait of Hormuz.