Oil prices soar as Trump backs Iran blockade amid high-stakes standoff

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US President Donald Trump has vowed to maintain a naval blockade on Iranian ports, stating that the operation could last for months. This standoff has disrupted oil flows through the Strait of Hormuz, pushing global oil prices above $120 per barrel and wreaking havoc on the global economy. Trump contends that the blockade is more effective than bombing and claims the US has already won the war, though he seeks to win by a bigger margin.

Iran has dismissed the blockade as doomed to fail and has reasserted its control over the Strait of Hormuz, complicating US plans for a coalition to reopen the waterway. Tehran has warned of long and painful strikes on US positions if Washington renews attacks and has rejected further negotiations unless the blockade is lifted. Conversely, President Trump has stated he will not lift the blockade until Iran agrees to a nuclear deal, urging Tehran to get smart soon and reach an agreement.

Despite the impasse, President Trump is facing intense political pressure to end the war, which is unpopular with much of his base, unnerves US allies, and has increased costs for American consumers at the pump. In response to these economic pressures, Trump has met with oil executives to discuss ways to minimize the impact on fuel supplies. Meanwhile, the US Central Command has prepared a plan for short and powerful strikes against Iran as the two nations remain gripped in a costly standoff involving mines and drones.

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