Oil Markets on Edge as U.S. Blockade Takes Effect

A US naval blockade on ships entering Iranian ports and coastal areas has come into effect, following failed peace talks between US and Iranian negotiators over the weekend. And it already poses a dilemma: risk attack from Iranian assets near the Strait of Hormuz or hold back and hope to catch vessels breaking out into the open seas. The move is the latest attempt by US President Donald Trump to force Iran into making concessions, including a commitment not to seek a nuclear weapon or the means to build one. It follows more than a month of air…