U.S. seizes Iranian-flagged ship, Warsh's big week, Cursor funding and more in Morning Squawk
The US has seized an Iranian-flagged cargo ship in the Gulf of Oman, escalating tensions between the two countries. The move has led to a rise in oil prices and a decline in stock futures.
The US has seized an Iranian-flagged cargo ship, the Touska, in the Gulf of Oman, according to President Donald Trump. The USS Spruance intercepted the ship after it attempted to pass the US naval blockade of Iranian ports. The seizure has raised concerns about escalating tensions in the Middle East, causing oil prices to rise and putting downward pressure on stock futures. The S&P 500 had previously reached an all-time high after Iran reopened the Strait of Hormuz to commercial traffic, but the route was later closed again. Energy Secretary Chris Wright warned that gas prices could remain above $3 per gallon until next year. The development has thrown cold water on optimism that the Iran conflict could be nearing its end.
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