The seizure is an escalation of the blockade and comes after Iran fired upon commercial vessels attempting to transit the Strait of Hormuz earlier Sunday. The strait is between the Persian Gulf and the Gulf of Oman. <\/p>\n
Since last week, the U.S. has been operating a naval blockade of ships entering and exiting Iranian ports. Iran views the ongoing blockade as a breach of the ceasefire reached by the U.S. and Iran, and cites this as one of its reasons for calling off<\/a> the expected negotiations on Monday in Islamabad. <\/p>\n Trump\u00a0warned<\/a>\u00a0on Sunday he would “knock out every single Power Plant, and every single Bridge, in Iran” if Tehran did not agree to Washington’s terms to end the conflict. <\/p>\n West Texas Intermediate<\/a> futures surged 8.11% to $90.65 per barrel as of 8:03 p.m. ET. Brent crude<\/a>\u00a0rose 7.21% higher to $96.90 per barrel. <\/p>\n South Korea’s Kospi was higher at 0.27% while the small-cap Kosdaq dropped 0.52%. Japan’s\u00a0Nikkei 225<\/a>\u00a0rose 0.62%, while the Topix gained 0.68%. Australia’s S&P\/ASX 200 was 0.39% lower.<\/p>\n Hong Kong Hang Seng index<\/a> futures were at 26,502, higher than the index’s last close of 26,160.33.<\/p>\n Stock Chart IconStock chart icon Overnight on Wall Street, Dow Jones Industrial Average futures<\/a>\u00a0shed 425 points, or 0.9%.\u00a0S&P 500 futures<\/a>\u00a0lost 0.8%, while Nasdaq-100 futures<\/a> fell 0.65%. <\/p>\n During Friday’s regular session, the\u00a0S&P 500<\/a>\u00a0jumped 1.2% to close at 7,126.06, crossing the 7,100 threshold for the first time. The\u00a0Nasdaq Composite<\/a>\u00a0gained 1.52% and settled at 24,468.48 for its 13th consecutive winning day and its longest positive streak since 1992. Both indexes posted fresh intraday and closing records.\u00a0<\/p>\n \u2014 CNBC’s Fred Imbert<\/a>, Sean Conlon<\/a>, Lisa Kailai Han<\/a> and Garrett Downs<\/a> contributed to this report.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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