All eyes are on the Strait of Hormuz, as President Donald Trump’s 48-hour deadline ticks closer and Iran threatens to permanently close the vital trade passage. Asian stocks fell Monday as oil prices continued to rise, adding to fears of global inflation.
The number of people reported killed in Iran and Lebanon since the start of the conflict is now into the thousands, with anti-war protests taking place in several cities around the world this weekend.
Here’s what to know on Day 24.
What are the main headlines?
Commercial vessels in the Gulf, near the Strait of Hormuz in northern Ras al Khaimah, United Arab Emirates on March 22, 2026. Getty Images
Iran responds to Trump: Over the weekend, Trump said the US would “obliterate” Iran’s power plants if the strait isn’t reopened by Monday evening, at 7:44 p.m. ET – 48 hours from the time he posted the threat on Truth Social. Iran responded that if Trump follows through with his threat, it would Over the weekend, Trump said the US would “obliterate” Iran’s power plants if the strait isn’t reopened by Monday evening, at 7:44 p.m. ET – 48 hours from the time he posted the threat on Truth Social. Iran responded that if Trump follows through with his threat, it would close the vital waterway indefinitely and attack regional infrastructure. Separately, an Iranian source told CNN that Tehran is moving forward with monetizing control of the strait.
Oil crisis: Oil prices rose Sunday after Iran’s threat, with Brent crude – the global benchmark – climbing to $114.09 a barrel. NATO Secretary General Mark Rutte said he’s Oil prices rose Sunday after Iran’s threat, with Brent crude – the global benchmark – climbing to $114.09 a barrel. NATO Secretary General Mark Rutte said he’s “absolutely convinced” an alliance of countries will be able to reopen the Strait of Hormuz, if needed.
Attacks on Lebanon: The Lebanese president The Lebanese president condemned Israel’s attacks on infrastructure in southern Lebanon on Sunday, calling them a “prelude to a ground invasion” and in “clear violation” of international law. Earlier, Israel’s defense minister said the military would accelerate demolishing homes along the southern Lebanese border.
What’s happening on the ground?
A drone view shows a crater in a residential neighbourhood, following a night of Iranian missile strikes which injured dozens of Israelis, amid the US-Israel conflict with Iran, in Arad, southern Israel March 22, 2026. REUTERS/Dedi Hayun Dedi Hayun/Reuters
