The Globe and Mail reports in its Thursday edition that Iran fired on three ships in the Strait of Hormuz and seized two. An Associated Press dispatch to The Globe reports that this occurred a day after President Donald Trump extended a ceasefire while continuing the U.S. blockade of Iranian ports. There appears to be no end in sight for the standoff between the United States and Iran, which has effectively closed the strait. The conflict has already sent gasoline prices skyrocketing far beyond the region and raised the cost of food and a wide array of other products. The price of Brent crude oil, the international standard, nosed over $100 (U.S.) a barrel, marking a 35-per-cent increase from prewar levels, but stock markets still appear to be shrugging it off. The European Union Energy Commissioner, Dan Jorgensen, warned of lasting impact for consumers and businesses, likening it to other major energy crises over the past half-century. He said the disruption is costing Europe around $800-million (U.S.) each day. Iran taking control of two ships didn't violate truce terms because "these were not U.S. or Israeli ships, these were two international vessels," White House spokesman Karoline Leavitt told Fox News Channel.