Iran Accuses U.S. of 'Piracy' After Oil Tankers Seized Near Hormuz

Iran is accusing the Trump administration of state-sanctioned 'piracy' after the U.S. seized two Iranian oil tankers in the latest flashpoint of the Strait of Hormuz crisis.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei says the seizure of the M/T Majestic and the M/T Tifani under U.S. court warrants is a deliberate act, not a mistake. The state department has not commented on the record.

Markets are now pricing a 31.5% chance that the U.S. blockade of Hormuz is lifted by May 31, down from 40% in the last 24 hours. The odds of a new U.S.-Iran nuclear deal within that same window sit at just 14%.