FACTBOX: Oil prices rise on US-Iran Hormuz standoff ahead of ceasefire expiry

Oil prices rose April 20 following the US seizure of an Iranian ship and the continuation of the Strait of Hormuz blockade by the US. The strait is now back to being effectively closed, as expectations fade of a quick resolution of the Middle East crisis. The US-Iran ceasefire is set to expire April 22, and it is unclear if the next round of peace talks set for April 21 in Pakistan will takeOil prices rose April 20 following the US seizure of an Iranian ship and the continuation of the Strait of Hormuz blockade by the US. The strait is now back to being effectively closed, as expectations fade of a quick resolution of the Middle East crisis. The US-Iran ceasefire is set to expire April 22, and it is unclear if the next round of peace talks set for April 21 in Pakistan will takeRead More