US seizes Iranian vessel — the 24-hour ceasefire is already over

WTI crashes 10% on Friday as Iran reopens Hormuz. It surges 6% on Monday as the US Navy seizes an Iranian-flagged cargo vessel attempting to break its blockade. The 24-hour window between “completely open” and closed again was the shortest truce in modern oil-market history. Almost 600 million barrels have been blocked over 50 days. Iran calls the seizure “maritime piracy”; Trump threatens to hit “every power plant and bridge” if Tehran won’t negotiate. The problem with pricing war risk is that the risk keeps repricing itself.