India's Foreign Ministry said that there was no discussion between New Delhi and Tehran regarding the exchange of the three seized ships with a guarantee that the ships would pass through the Strait

India's Foreign Ministry said that there was no discussion between New Delhi and Tehran regarding the exchange of the three seized ships with a guarantee that the ships would pass through the Strait.

The absence of discussions between India and Iran about the seized ships could indicate rising tensions that may affect shipping routes in the region, particularly through the strategic Strait of Hormuz. This uncertainty could put upward pressure on oil prices, given that a disruption in shipping could impact global supply, especially for WTI futures. Traders should monitor for further developments as any escalation could provoke a more pronounced market reaction.