CNBC Daily Open: Trump issues Strait of Hormuz ultimatum
By Dylan Butts
Published on March 23, 2026.
The Middle East conflict escalated into its fourth week, with U.S. President Donald Trump and Tehran issuing dueling threats regarding the Strait of Hormuz. The closure of the vital shipping route has rattled international markets as Washington faces pressure to keep energy prices in check and reopen the waterway. Iran responded by threatening to target US infrastructure in the Gulf if Washington carried out its threat. The threats came after Iran targeted nuclear facilities in Israel, following reports of U.-Israeli attacks on an Iranian nuclear enrichment complex. The escalation has raised fears among corporate executives that the conflict will continue for months, potentially causing uncertainty for the global economy.
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