Tensions rose as the U.S. announced plans to blockade ships from Iranian ports. This development follows the failure of peace talks between the two nations, causing immediate spikes in global oil prices.

The U.S. said on Sunday that it will soon block ships from Iranian ports. It comes after the U.S. and Iran failed to reach an agreement during face-to-face peace talks, sending oil prices surging. <p>The U.S. said on Sunday that it will soon block ships from Iranian ports. It comes after the U.S. and Iran failed to reach an agreement during face-to-face peace talks, sending oil prices surging.</p><img src="https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-5781260" />