The US and Iran are at an impasse, with President Donald Trump exploring new strike options ahead of a deadline to seek Congressional approval to extend the conflict.
Trump told Axios that blocking Iran's ports is 'somewhat more effective than the bombing' and 'choking' the country by restricting its oil exports.
Brent oil rose to a wartime high as traders factor in an even longer closure of the Strait of Hormuz and a potential breakdown of the US and Iran's shaky ceasefire.
Analysts predict Trump will either notify Congress of a 30-day extension or disregard the deadline, with his administration arguing that a current ceasefire with Tehran marked an end to the conflict.
