Iran’s Khatam al-Anbiya central military command said the vessel was en route from China when it came under attack, warning that Iranian forces would respond. A spokesperson described the incident as “armed piracy” and said retaliation would follow.U.S. President Donald Trump said earlier that a U.S.

Navy destroyer intercepted the ship, identified as the MV Touska, after it failed to comply with repeated warnings while attempting to breach a U.S.-imposed maritime blockade on Iranian ports.Trump said the vessel was disabled after the USS Spruance fired on its engine room and that U.S. Marines had taken control of the ship.

He added that the Touska was subject to U.S. Treasury sanctions due to a history of alleged illegal activity.The U.S. Central Command said the destroyer issued warnings over a six-hour period before using force to stop the vessel, marking the first such interception since the blockade began last week.

It added that U.S. forces have turned back at least 25 commercial vessels attempting to navigate the restricted waters.The confrontation comes amid heightened instability in the Strait of Hormuz, a critical route for global oil and gas shipments, which has remained largely closed since the outbreak of the U.S.-Israel conflict with Iran seven weeks ago.

Iran briefly reopened the strait on Friday following a ceasefire in Lebanon but shut it again within 24 hours, citing continued U.S. naval restrictions. The uncertainty has disrupted maritime traffic, with vessel tracking data showing tankers reversing course in recent days.Energy analysts warned that the renewed tensions could drive volatility in oil markets after a brief easing late last week.

Amrita Sen, founder of Energy Aspects, said developments over the weekend underscored the fragility of the situation and the risk of further escalation.

The incident adds pressure on diplomatic efforts to stabilize the region, with markets and governments closely monitoring the standoff for signs of either de-escalation or further conflict.

Speaking to reporters, Trump acknowledged the difficulty of the task and provided no operational details but indicated that other countries were prepared to assist. “It won’t be easy, we will have that open fairly soon,” he said, adding that multiple nations reliant on the waterway were offering support.

The Strait of Hormuz, which handles roughly 20 percent of global oil and liquefied natural gas shipments, has seen traffic severely curtailed since Tehran effectively blocked passage following the outbreak of hostilities. The disruption has triggered sharp volatility in global energy markets and raised concerns over supply security.

The conflict escalated after U.S. and Israeli forces launched strikes on Iran on February 28, prompting retaliatory attacks by Tehran on Israel and U.S. military installations in Gulf states. The broader regional confrontation has resulted in significant casualties, mass displacement and sustained pressure on oil prices.Trump has also pressed allies to contribute more actively to securing the waterway.

Following talks with the U.S. president, Mark Rutte urged European governments to provide concrete commitments within days, according to Reuters reporting.A fragile ceasefire announced earlier this week between Washington and Tehran has yet to restore normal shipping flows through the strait.

Separately, the United Kingdom is set to convene another meeting next week involving countries seeking to reestablish safe maritime transit through the strait. The discussions are expected to include senior officials and focus on coordinated diplomatic, economic and potential security measures to ensure passage for commercial vessels.

The meeting follows earlier consultations involving dozens of countries, including foreign ministers and military planners, as governments weigh options ranging from sanctions on Iran to maritime security operations once conditions permit.

British Prime Minister Keir Starmer has said a credible plan is needed to reopen the route and stabilize global trade flows.

Iran’s Revolutionary Guards said ships should avoid the main navigation zone and instead follow designated entry and exit paths to reduce the risk of collision with naval mines.

“All ships intending to transit the Strait of Hormuz are hereby notified they should take alternative routes for traffic,” the statement said, emphasizing maritime safety concerns.

The announcement follows Tehran’s agreement to temporarily reopen the strategic strait as part of a two-week truce reached with Washington. The ceasefire was agreed late Tuesday, shortly before a deadline set by U.S. President Donald Trump for Iran to comply with demands related to the reopening of the passage.

The Strait of Hormuz is a critical global energy corridor, through which roughly one-fifth of the world’s oil supply typically passes.

Iran had effectively restricted traffic through the route since early March, contributing to a surge in global energy prices and heightening concerns over supply disruptions.

The designation of alternative routes signals continued operational risks in the waterway despite the ceasefire, underlining the fragile security environment and the potential for further disruption to global shipping and energy markets.

“At this point, we take a cautious approach, and we are not making any changes to specific services,” the Danish container group said in a statement to Reuters.

The conflict, which escalated following U.S.-Israeli strikes on Iran in February and subsequent Iranian retaliation, led to the closure of the Strait of Hormuz and brought Gulf shipping activity close to a standstill, disrupting global supply chains.

Maersk, one of the world’s largest container shipping companies, had suspended cargo bookings to several Gulf ports last month and introduced emergency bunker fuel surcharges globally to offset rising fuel costs.

“The ceasefire may create transit opportunities, but it does not yet provide full maritime certainty and we need to understand all potential conditions attached,” the company said.It added that any decision to resume transit through the strait would depend on ongoing risk assessments, security conditions and guidance from relevant authorities and partners.

In response to disruptions, Maersk has implemented alternative logistics routes, including a “land-bridge” system using ports in Jeddah in Saudi Arabia, Salalah and Sohar in Oman, and Khor Fakkan in the United Arab Emirates, allowing cargo to be transported by land into Gulf destinations.

The company said it would continue to monitor developments closely and update operations as greater clarity emerges in the coming days.

In a prime-time address, Trump said the United States would “hit” Iran hard over the next two to three weeks while asserting that core military objectives were nearing completion.

However, the absence of a defined endgame unsettled investors and raised concerns about prolonged disruption to global energy supplies.

South AfricaBenchmark crude prices jumped around 5%, climbing above $106 per barrel, while equity markets declined across major regions as traders reacted to continued uncertainty over the conflict and the closure of the Strait of Hormuz, a critical route for global oil shipments.

Trump reiterated that U.S. forces were “on track” to complete their objectives “very shortly,” and said Iran had been “essentially decimated,” while warning that further escalation remained possible if Tehran did not meet U.S. demands.

He also suggested potential strikes on key infrastructure, including energy facilities. Despite the aggressive rhetoric, diplomatic prospects remain limited. A senior Iranian source told Reuters that Tehran is seeking a guaranteed ceasefire before halting attacks and confirmed that no indirect talks on a temporary truce have taken place.

The ongoing conflict, which began after U.S.-Israeli strikes on Feb. 28, has disrupted global oil flows and heightened geopolitical risk across the Middle East. Iran’s effective blockade of Hormuz has constrained shipments that typically account for about one-fifth of global oil and gas trade, amplifying volatility in energy markets.

Market participants said Trump’s speech failed to reassure investors seeking clarity on how and when the conflict might end, with uncertainty over supply disruptions and military escalation continuing to drive price swings.

International financial institutions, including the International Monetary Fund, World Bank and International Energy Agency, have warned that the war is having significant and uneven global economic impacts, particularly on energy-importing countries.

Brent crude futures rose 65 cents to $112.84 a barrel by 0446 GMT, while U.S. West Texas Intermediate climbed 84 cents to $98.75, after both benchmarks had earlier fallen by more than $1. The spread between the two contracts widened to over $13 a barrel, the largest gap in years.

The volatility follows a U.S. decision to allow the temporary delivery and sale of Iranian-origin oil already at sea, injecting additional supply into markets strained by disruptions linked to the ongoing conflict.

Market sentiment remained highly sensitive to geopolitical developments after Donald Trump issued a 48-hour ultimatum demanding Iran fully reopen the Strait of Hormuz or face strikes on its power plants.Iranian officials responded with warnings that any such action would trigger attacks on critical energy and infrastructure assets across the Gulf.

Iran’s Parliament Speaker Mohammad Baqer Qalibaf said regional facilities could face “irreversible” damage if Iranian plants were targeted.Analysts said the exchange of threats pointed to a heightened risk of escalation.

Amrita Sen of Energy Aspects said markets were underestimating the likelihood that Iran would resist pressure, warning that further confrontation could have severe consequences for Gulf infrastructure.

Despite the release of additional Iranian oil, traders remained focused on the scale of supply disruption caused by the conflict. The Strait of Hormuz, a key artery for global energy flows handling roughly 20% of oil and liquefied natural gas trade, has been severely affected.Industry estimates suggest the war has removed between 7 million and 10 million barrels per day from Middle East production, tightening global supply even as policymakers attempt to stabilise markets.

Vandana Hari of Vanda Insights said short-term price movements would continue to be driven by geopolitical rhetoric, but longer-term trends would depend on the restoration of oil flows from the region.

Fatih Birol, head of the International Energy Agency, described the current crisis as “very severe,” exceeding the combined impact of the oil shocks of the 1970s.The conflict, now in its fourth week, has damaged major energy facilities and disrupted shipping routes, amplifying concerns over prolonged supply constraints and broader economic fallout.

The interplay between potential supply increases from Iranian oil and the risk of further infrastructure damage has left markets exposed to sharp price swings as the situation evolves.

The charity said escalating hostilities following a U.S.-Israeli offensive against Iran on Feb. 28 and Tehran’s subsequent retaliation across the region had severely constrained air, sea and land logistics, with shipping through the Strait of Hormuz nearly halted.

According to the organization, the disruption has caused shipping costs to surge by as much as 50% as aid agencies are forced to reroute deliveries, leaving critical supplies stranded in transit hubs across the Middle East.

At least 410,000 children and their families in crisis-affected regions have been impacted, with essential aid shipments unable to reach their destinations. “The escalating conflict is having grave ripple effects for children far beyond the region,” said Willem Zuidema, the group’s head of global supply chains.

A shipment of medical supplies bound for Sudan remains stuck in Dubai due to the closure of Hormuz-linked routes, putting more than 90 primary healthcare facilities at risk of running out of essential medicines, including antibiotics, antimalarials and fever treatments.

Aid groups are now exploring alternative routes, including overland transport across Saudi Arabia to Jeddah followed by sea shipment to Port Sudan, a shift expected to add between $1,000 and $2,000 per container in additional costs.

In Afghanistan, critical nutrition supplies intended for 5,000 children and 1,400 pregnant and breastfeeding women have also been delayed. Originally scheduled to be shipped from India via Iran, the supplies must now be transported by air at a cost exceeding $240,000, more than the value of the cargo itself.

Shipments to Yemen face similar challenges, with medicines for around 5,000 children still held up in Dubai. For the first time, the organization plans to move these supplies by road, effectively doubling transport costs.

Save the Children urged all parties involved in the conflict to ensure safe passage for humanitarian aid, calling for exemptions that would allow essential goods, including food and medical supplies, to move through critical chokepoints.

“With global humanitarian needs already at record levels, further escalation of the conflict in the Middle East and wider region will have grave ramifications,” Zuidema said.