President Donald Trump has stated that the blockade of Iran's ports may be 'somewhat more effective than bombing' as tensions between the U.S. and Iran continue to escalate. Oil prices have surged to $126 per barrel, reflecting concerns over a potential breakdown of the ceasefire established since early April. The U.S. military is reportedly preparing new plans for strikes on Iran, with analysts suggesting that action could occur within the next two weeks. Iran has insisted it will not reopen the vital Strait of Hormuz for commercial vessels until the U.S. lifts its blockade, leading to fears of a significant economic impact on the Iranian economy, which is already showing signs of strain. Trump is facing a deadline to either end the conflict or seek congressional approval for an extension, but it is likely that the deadline will pass without a definitive resolution.