Trump and Iran hurl war threats with Strait of Hormuz crisis building

US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed, upping the ante in a war now in its fourth week with no sign of de-escalation. Mr Trump, under pressure to bring down soaring oil prices, said Iran must “fully open, without threat”, the vital waterway for energy flows. He gave the Islamic Republic 48 hours “from this exact point in time”, in a Truth Social post sent at 7.44pm New York time on March 21 (7.44am on March 22, Singapore time).

Iran countered that – if its power facilities are attacked – it would close the Strait of Hormuz “completely”, state TV reported on March 22, citing a statement from army command. The passage, through which one-fifth of the world’s oil and liquefied natural gas (LNG) supplies normally flow, has been effectively shut since the US and Israel began attacking Iran on Feb 28. Vessels from certain countries have managed to get through.

The rhetoric suggests neither side is willing to back down, with the war having already triggered an unprecedented oil and gas supply crisis. The latest threats follow a week of heavy hits on crucial energy infrastructure in the Middle East, deepening the risk of long-term global economic impact. Crude oil swung sharply, jumping 1.9 per cent, before reversing to fall nearly 1.8 per cent to US$110 a barrel.

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Global benchmark Brent has surged by more than 50 per cent since the strikes by the US and Israel on Iran in late February, threatening to unleash a wave of global inflation. Price spikes – particularly petrol – pose political risks for Mr Trump at home, just eight months before midterm elections. Some Republicans are uneasy about further escalation.

“When Israel bombed a non-military target, bombed an energy target, the President was not filtered in saying how displeased he was,” Republican Senator Lisa Murkowski of Alaska said on March 22. US Treasury Secretary Scott Bessent said attacks are aimed at destroying Iran’s fortifications along the Strait of Hormuz. Mr Trump will “take whatever steps it takes” to achieve goals, including destroying Iran’s air force and navy, denying it the ability to have nuclear weapons and “their ability to project power internationally”, Mr Bessent said on March 22 on NBC’s Meet The Press.

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