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Iranian leaders had earlier cautioned that any attack on their infrastructure would be met with retaliation against energy and oil facilities across the region, raising fears of a wider conflict.

Leon Panetta said Iran war was not an unexpected risk. He pointed out that for years, US security officials have known Iran could disrupt global oil supplies by blocking the Strait of Hormuz. According to him, this was a well-known danger, but one that appears to have been overlooked in the current conflict.

Iran War Day 23 LIVE: Trump threatens to "obliterate" Iran's power plants if Strait of Hormuz isn't reopened in 48 hours. Iranian missiles pierce Israeli defenses, striking Dimona and Arad near nuclear site -- 100+ wounded. Iran fires missiles at Diego Garcia base. 70th wave of attacks launched. Saudi Arabia expels Iranian diplomats. 22 nations condemn Hormuz blockade. Oil above $112. 3,000+ ships stranded. Full live updates.

The ultimatum comes as tensions between the US and Iran continue to escalate, with Iran having effectively blocked access to the Strait of Hormuz in response to US-Israeli attacks.

Iran has eased its stance on the Strait of Hormuz, allowing limited ship passage while restricting vessels linked to the US and Israel.

The Strait of Hormuz remains open to all shipping except vessels linked to 'Iran's enemies', says Iran's representative to the UN maritime agency on Sunday

Benjamin Netanyahu calls Arad strike a "miracle", warns Iran poses global threat, vows to target IRGC leaders, and signals close coordination with Donald Trump amid escalating Strait of Hormuz tensions.

Netanyahu's comments came amid escalating threats following Trump's warning that US could strike Iranian power plants if navigation through the Strait of Hormuz is not fully restored within 48 hours.

The ongoing military conflict in the Middle East could easily shake the investor's confidence.

The aircraft was intercepted over Iran's southern coast and shot down near the strategically critical Strait of Hormuz using a surface-to-air missile.