AI Summary

Oil prices rose on Wednesday after the Iranian Islamic Revolutionary Guard Corps seized two commercial vessels in the Strait of Hormuz. Brent crude for June delivery climbed 2.99% to $101.40 per barrel, while WTI rose 3.18% to $92.52 per barrel. Iranian state media said the Panama‑flagged MSC Francesca and Liberia‑flagged Epaminondas violated maritime regulations, operated without permits, and tampered with navigation systems. A third ship, the Euphoria, was also fired upon and reportedly became stranded near the Iranian coast. The seizures occurred hours after President Donald Trump announced an indefinite extension of the ceasefire with Iran, while directing the U.S. military to maintain the naval blockade of Iranian ports.

AI summaries can be wrong sometimes—always verify important details using the source article.