Trump Demands Strait Reopen In 48 Hours, Threatens Power Plants Like It’s Payday
KEY POINTS
- •Trump issued a 48-hour ultimatum on Saturday night demanding Iran reopen the Strait of Hormuz or face power plant destruction.
- •Brent crude briefly hit $113 on Sunday, remaining about 55% higher since U.S. strikes on Iran began.
- •NATO and 21 other countries are coordinating a U.K.-led effort to secure safe passage for oil tankers through the Strait.
Oil prices are currently strutting above $100 per barrel like they just got a participation trophy for surviving Iran’s Strait of Hormuz lockdown in Week 4 of the ongoing Iran drama. After President Trump casually issued a 48-hour ultimatum Saturday night to reopen the Strait, threatening to turn Iran’s power plants into a meme-worthy pile of rubble, Brent crude flirted with $113 before chilling out a bit Sunday evening. Meanwhile, U.S. gasoline edged near $3.94 a gallon – that’s the wallet-shrug before your next existential crisis. Former Energy Secretary Dan Brouillette, a Trump vet, optimistically predicts prices will drop soon, assuming a magical ceasefire happens. NATO, led by a U.K.-fronted 22-country club (including Japan, Australia, and the UAE), is awkwardly trying to negotiate safe passage, proving international diplomacy is still weirdly complicated.
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(1 of 3)Source: Axios | Published: 3/22/2026 | Author: Ben Geman