Iran renewed attacks on commercial vessels in the Strait of Hormuz on Wednesday, escalating tensions as it accused the United States of violating the current ceasefire through its naval blockade of Iranian ports.

U.S. President Donald Trump announced a day earlier that the ceasefire with Iran would be extended indefinitely, stepping back from prior threats to resume military action if Tehran failed to accept terms for a broader peace agreement.

Despite the extension, Washington is increasing its military presence in the region, deploying additional forces as the situation remains volatile.

Energy markets reacted to the renewed instability, with oil prices rising again amid growing uncertainty and diminishing expectations for a near-term resolution to the conflict.