A ceasefire between the US and Iran appears to have broken down, leading to increased tensions in the Persian Gulf. This development is reportedly causing oil prices to rise, with some outlets suggesting that a US blockade of the Hormuz Strait could further intensify the situation. The impact of these events on financial markets is unclear, with some reports indicating a surge in oil prices and a fall in the US stock market, while others suggest that major indexes such as the FTSE and Wall Street are pushing higher.