On Sunday, President Donald Trump announced on social media that the United States Navy would initiate a blockade of the Strait of Hormuz, asserting that any attacks on US vessels would be met with severe retaliation. This announcement was later clarified by the US Central Command (Centcom), indicating that the blockade would be limited to ships transiting through Iranian ports while allowing passage for vessels heading to Gulf allies' ports. The blockade is seen as a response to Iran's control over the strait, which is crucial for global oil trade. Experts suggest that while the blockade could disrupt Iranian oil exports and potentially lower global oil prices, it may also lead to increased prices due to tighter market conditions. Following Trump's announcement, US crude oil prices surged by 8% to $104.24 per barrel, while Brent crude rose 7% to $102.29. Iran's Revolutionary Guards have warned that any US warships enforcing the blockade would be viewed as a breach of the current ceasefire, raising the stakes in the already tense US-Iran relations.