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Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.
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A U.S. seizure of an Iranian cargo ship and reports of vessels coming under fire in the Gulf have pushed a fragile ceasefire with Tehran to the brink.
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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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The two-week ceasefire between the US and Iran is set to expire Wednesday. And the two sides seem far from a resolution. President Trump says the US has taken custody of an Iranian vessel.
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The military said it had disabled the vessel after it ignored repeated warnings to stop, amid a U.S. blockade of Iranian ports. Marines boarded the ship and seized it.
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President Donald Trump said Sunday that U.S. forces had seized an Iranian-flagged cargo ship that allegedly attempted to breach a U.S. naval blockade
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