Following US President Donald Trump's announcement of a blockade on the Strait of Hormuz, senior Iranian officials adopted a defiant stance. The US Navy's blockade, which will commence on Monday at 10 a.m. ET, aims to restrict shipping to and from Iran amidst failed peace negotiations in Pakistan. Iran's Islamic Revolutionary Guard Corps warned that any military vessel approaching the waterway would be treated as a violation of the ceasefire. Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked the US, suggesting that Americans would soon regret current gasoline prices, which are around $4 to $5 per gallon. Iran's Foreign Minister Abbas Araghchi described the negotiations as the most intensive engagement in 47 years, expressing disappointment over the US's shifting positions. The announcement has led to a surge in oil prices, with Brent crude rising over 8% to surpass $103 per barrel, as the Strait of Hormuz is crucial for global energy trade, handling a significant portion of the world's oil shipments.