Donald Trump confirms US seized Iranian cargo ship, oil jumps
Oil prices just hit after tensions flared up between the US and Iran.
Things escalated when both sides accused each other of targeting ships, breaking a ceasefire.
Trump confirmed the US seized an Iranian cargo ship, which led Iran to walk away from peace talks.
All this drama is shaking up global oil supplies and making markets pretty nervous.
Brent crude up $6 to $96.49
Brent crude shot up by over $6 to $96.49 a barrel, with US oil following close behind.
The Strait of Hormuz, where about 20% of the world's oil passes through, is at the center of it all.
Experts think even if things cool off, prices might still hover between $85 and $90 per barrel for a while. But if disruptions keep happening, we could see much higher prices, making life tougher for countries that depend on imported energy.
Recovery could take months, so buckle up for some uncertainty in the energy world.