Infuriated by the failure of peace negotiations, Donald Trump has issued a direct threat to shut down the Strait of Hormuz. This strategic waterway is Tehran’s economic artery, and a blockade could deal a catastrophic blow to Iran’s oil-dependent economy.

According to latest intelligence, a US-led maritime blockade would cripple four vital Iranian ports: Kharg Island, Jask Terminal, Bandar Abbas, and Bandar Khomeini. While the US previously allowed some leeway to keep global oil prices stable, Trump is now pivoting toward a total crackdown on Iranian tankers.

The fallout is already visible, with crude oil prices surging past $100 per barrel. CNN reports that Iran managed to export 1.8 million barrels daily as of March, fueling its military operations. However, with Trump’s latest stance threatening to choke the supply of 140 million barrels of crude, the global energy market is bracing for a massive price hike that could hit consumers worldwide.