Trump to Iran: Open Hormuz in 48 hours or U.S. bombs power plants

President Trump on Saturday night issued Iran a 48-hour ultimatum to fully reopen the Strait of Hormuz or face U.S. strikes on Iranian power plants, reversing his position from just 24 hours earlier when he suggested ending the conflict without resolving the strait's closure. Roughly one-fifth of the world's oil passes through the strait, and the blockade has already driven the U.S. national average gas price to $3.94 per gallon as of Sunday morning, up more than a dollar in a month. Iranian Parliament Speaker Mohammad Bagher Ghalibaf responded with a counter-threat that Iran would target vital regional energy and oil infrastructure in retaliation, warning oil prices would spike further. The deadline expires 48 hours from Trump's Truth Social post, setting a concrete trigger point for potential escalation between the two nations over one of the world's most critical shipping passages.