President Donald Trump of the United States, U.S., has issued Iran 48 hours ultimatum to open the Strait of Hormuz to allow oil tankers to navigate to the global crude oil market. Trump warned that failure to comply, the US will carry out airstrike on Iran's power plants and oil wells.

Trump, writing on Truth Social, declared: "If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!’

Iran had blocked the Strait of Hormuz on March 3 after the airstrike by the U.S./Israel joint forces.

The blockade has obstructed crude oil supply to the international market, causing hike in price of crude in the global market.