Strait of Hormuz Crisis Deepens: Ship Seized and Cargo Vessel Sunk

A crisis has deepened in the Strait of Hormuz with the seizure of a cargo ship and the sinking of another vessel. This threatens global oil supplies and creates significant volatility in energy markets. US President Donald Trump and Chinese leader Xi Jinping reached an agreement to keep the Strait of Hormuz open for commerce, introducing a new variable into the conflict.