The financial impact of US and Iranian blockades is becoming evident as Gulf states seek access to US dollars

Iranian authorities said they consider the U.S. blockade of the country’s ports as an act of war and a violation of any ceasefire agreement.

The attacks, which Iranian media said were carried out by Iran's paramilitary Revolutionary Guard, came after Trump said the U.S. would indefinitely extend the ceasefire.

Standoff between Iran and US continues as both impose blockades of critical shipping waterway

Despite Pakistan’s suggestion peace talks could takes place as soon as Friday, Iran warns none can take place while US maintains its blockade

The financial impact of US and Iranian blockades is becoming evident as Gulf states seek access to US dollars

Brent oil has risen above $100 per barrel again as tanker traffic through the strait remains at a near standsill.

Iran flaunted its tightened grip over the Strait of Hormuz on Thursday with video of its commandos storming a huge cargo ship, after the collapse of peace talks.