United States President Donald Trump’s planned naval blockade of Iran would further cripple international shipping, exacerbating the energy crisis roiling the global economy, analysts warn.Oil prices surged above $100 a barrel on Monday after Trump announced that the US Navy would blockade the Strait of Hormuz and “interdict every vessel in international waters that has paid a toll to Iran”.Recommended Stories list of 4 itemsend of list“Iran will not be allowed to profit off this Illegal Act of EXTORTION,” Trump said on Truth Social.Central Command, the US military’s command responsible for operations in the Middle East, said in a statement the blockade would affect only ships entering and exiting Iranian ports, an apparent scaling-back of Trump’s threat to fully block the strait.Trita Parsi, cofounder of the US-based Quincy Institute for Responsible Statecraft, said a US blockade would have a cascading impact across the global economy.“Anything that currently takes more oil off the market will push prices up, which in turn will push gas prices further,” Parsi told Al Jazeera.Oil could rise above $150 a barrel if the blockade were to trigger retaliation from the Iran-aligned Houthis in Yemen, who could shut down Bab al-Mandeb, a strait that connects the Red Sea to the Gulf of Aden and Indian Ocean, Parsi said.The strait is an alternative export route for Gulf oil and gas.A blockade aimed at depriving Iran of revenues would mark …
