US President Donald Trump has instructed his aides to prepare for an extended blockade of the Strait of Hormuz, a strategic waterway crucial for global oil transport. This decision comes amid a fragile ceasefire with Iran and stalled peace negotiations. Trump aims to further 'squeeze' Iran's economy by restricting shipping to and from its ports, which has already resulted in a spike in global oil prices, with Brent crude trading at nearly $111 per barrel. The blockade is seen as a safer alternative to escalating military action, which carries higher risks. Trump has publicly stated that Iran is in a 'state of collapse' and has dismissed a recent three-point proposal from Iran as insincere. The blockade has led to a significant increase in maritime traffic at Iran's Chabahar port, with over 20 vessels currently docked, compared to an average of five before the blockade. The ongoing tensions have raised concerns about a potential inflation crisis, with experts labeling the situation as the biggest supply shock in history. The second round of negotiations was called off after Iran declined to send its delegation, further complicating diplomatic efforts.