Tensions flare near Strait of Hormuz as ship is seized, another sunk

Tensions escalated near the Strait of Hormuz with the seizure and sinking of ships, impacting global oil exports and driving up fuel prices. This situation is a hurdle in ongoing US-Iran negotiations to resolve the conflict, and was highlighted during a meeting between the two presidents. Recent reports of Israeli Prime Minister Netanyahu's visit to the UAE amid the ongoing conflict further complicate the situation.