Key topics:Trump threatens Iran with destruction if it rejects US deal by Tuesday.Strait of Hormuz access and Iran’s oil control are key US demands.War fuels energy crisis and market volatility amid rising oil prices..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..By James Politi and Steff Chávez in Washington.Donald Trump warned Iran that it could be “taken out in one night”, escalating his threats against Tehran as he demanded it reopen the Strait of Hormuz as part of any last-minute deal to halt the war.The US president made the comments at the White House on Monday, ahead of his own deadline of 8pm Eastern time on Tuesday for Iran to agree a deal with Washington or face new attacks on civilian infrastructure including bridges and power plants.“The entire country can be taken out in one night, and that night might be tomorrow night,” Trump told reporters in the White House.The president warned that the US had a plan “where every bridge in Iran will be decimated” and “every power plant in Iran will be out of business, burning, exploding and never to be used again” within hours of his deadline passing.He also said that passage through the Strait of Hormuz — which has been restricted since the US and Israel launched the war — was a “very big priority” and should be part of any ceasefire deal..Read more:.Ray Dalio: It all comes down to who controls the Strait of Hormuz — The “Final Battle".He added that the US expected to control Iran’s oil sector after the war. “To the winner belong the spoils.”Iran’s top military command described Trump’s latest threats as “delusional”. Tehran earlier said it had rejected what it called a US ceasefire plan.Trump’s bellicose remarks and Iran’s apparent rejection of a US ceasefire deal came on the eve of another inflection point in a war in the Middle East that has lasted more than five weeks, hit international markets and triggered fears of a deep global energy crisis.After repeatedly saying the war would end in two to three weeks, Trump on Monday said he did not know whether the conflict would escalate or end soon, even as he claimed talks were under way.“I can’t tell. It depends what they do. This is a critical period,” he said. “Now we’ll see what happens. I can tell you they’re negotiating. We think in good faith.”Tehran has threatened “crushing” attacks in response to more US or Israeli attacks on civilian infrastructure, deepening fears of more energy supply disruption. Earlier on Monday, Israel struck petrochemical facilities in Iran.US President Donald Trump saying Tehran could be 'taken out in one night'Trump has previously escalated his threats only to back down later. But it was “highly unlikely” that he would extend his Tuesday deadline, he said on Monday.The president appeared emboldened to escalate the war as he hailed a successful US special forces mission to rescue two airmen whose fighter jet Iran shot down on Friday. The mission also underscored Iran’s ability to strike US aircraft despite weeks of bombardment.Brent oil futures rose to more than $111 per barrel in the Asian morning. US crude prices have risen by almost 70 per cent since the war started on February 28, and the S&P 500 has lost 4 per cent.Trump has been facing intense pressure to end the conflict he launched as his approval ratings have dropped sharply and the price of fuel has surged.On Sunday, he lashed out at Iran on social media, calling Iranians “crazy bastards” and telling them they would be “living in hell” if they failed to open up the Strait of Hormuz, the vital waterway through which about a fifth of the world’s oil supply passes.The president’s remarks in the White House on Monday came just hours after Iran and the US had rejected each other’s proposals to end the war..Read more:.The Iran war is becoming a battle for control of Hormuz: Marc Champion.According to Iran’s state media, Tehran has demanded that any deal leads to “a permanent end to war” as well as the lifting of US sanctions and “a protocol” for safe passage of ships through the Strait of Hormuz..© 2026 The Financial Times Ltd.