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In this video, we discuss the escalating tensions in the Middle East as U.S. President Donald Trump issues a severe 48-hour ultimatum to Iran. Trump has threatened to obliterate Iran’s energy infrastructure and power plants if the Strait of Hormuz is not reopened for navigation. Meanwhile, the Iranian Foreign Minister has warned of severe retaliation against U.S. and Israeli assets. We analyze the potential impact on global oil prices and the risk of a full-scale regional war.