U.S. President Donald Trump has ordered aides to prepare for a prolonged blockade of Iran, aiming to choke oil exports.
The blockade follows rejection of Iran’s three‑step proposal and a demand for a 20‑year suspension of uranium enrichment.
Oil prices surged, with Brent at $114.46 (+2.9%) and WTI at $102.79 (+2.9%) per barrel.
The move raises risk of a prolonged “no‑deal, no‑war” standoff, potentially heightening market volatility.