US President Donald Trump has threatened to destroy Iran’s power plants and bridges if it fails to meet his Tuesday deadline to reopen the Strait of Hormuz to all shipping. He repeated an earlier threat to unleash “hell” but told US media there is a “good chance” of a deal being reached with Tehran. Iran has halted normal transport activity through the vital Strait of Hormuz, leading to skyrocketing global oil prices and fears of higher inflation around the world.

 

Attention is now focused on the approaching deadline for Iran to reopen the Strait of Hormuz, following a 48 hour ultimatum issued by Washington. The deadline is expected within hours, raising concerns of possible escalation if no agreement is reached. President Donald Trump said there is a good chance of a deal being finalised by Monday, signalling ongoing backchannel diplomacy despite heightened tensions.

 

However, Iran has rejected the ultimatum, warning it will not negotiate under pressure. The Strait of Hormuz remains critical to global energy supplies, with a significant portion of the world’s oil shipments passing through the narrow waterway. Continued disruption has already triggered volatility in energy markets and raised fears of broader economic impact. The coming hours will be crucial, as any failure to meet the deadline could lead to further military escalation and prolonged instability across West Asia. 

 

Meanwhile, OPEC+ countries held a virtual meeting  and agreed to increase oil production quotas by 2 lakh 6 thousand  barrels per day starting in May. The move is aimed at stabilising global markets amid the ongoing conflict in West Asia. However, the increase may have limited impact due to the continued disruption of shipping routes and damage to regional energy infrastructure.