Trump says blockade on Iran could last for months, oil hits US$119 a barrel
The president spoke to oil executives about extending his naval blockade, amid reports that he had rejected Iran’s Hormuz proposal
US President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval blockade turned the screws on Iran’s economy.
The US could extend its naval blockade of Iran for months more, oil executives were told in a meeting with Trump, an official said, after press reports that he had rejected Iran’s latest proposed deal to reopen the Strait of Hormuz.
“Iran can’t get their act together … They better get smart soon,” Trump posted on his social media platform, above a mocked-up picture of himself toting a rifle in front of explosions wrecking a desert fortress and the slogan: “No more Mr. Nice Guy!”
According to the administration official, speaking on condition of anonymity, Trump discussed with the oil executives “steps we could take to continue the current blockade for months if needed and minimise impact on American consumers”.
Global crude prices soared on Wednesday following media reports that Trump was considering an extended blockade of Iran, with Brent jumping above US$119 a barrel to its highest level since 2022 and US benchmark WTI above US$105.
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Indonesian seafarer among 20,000 stranded for months as Strait of Hormuz remains blocked
The UN Development Programme, meanwhile, warned that the war, which has sent the price of energy and fertiliser soaring, could plunge more than 30 million people into poverty in 160 countries.