Oil prices have surged above $100 a barrel after President Donald Trump threatened to blockade the Strait of Hormuz, a vital passage for oil shipments. Brent crude rose by 8% to around $102, while U.S. crude reached $104. Trump's comments, made on Fox News, indicated a hardline stance against Iran, stating that the U.S. would not allow Iran to profit from oil sales. The threat comes amidst ongoing tensions and a failure to achieve a lasting ceasefire in the region. The blockade is set to begin at 10 a.m. ET on Monday. As a result, gas prices in the U.S. have climbed to an average of $4.12 per gallon, up 38% since the war began. Analysts warn that continued high oil prices could lead to inflationary pressures, affecting costs for everyday goods, including food, due to disruptions in supply chains. Karen Young, a senior fellow at the Middle East Institute, noted that the impact of these rising costs could be felt for a long time.