Trump's Iran war opens up on terrifying new front as regime threatens the 'Strait of Tears': Oil prices to DOUBLE, analyst warns

By PHILLIP NIETO, US POLITICAL REPORTER Published: 20:42, 1 June 2026 | Updated: 20:58, 1 June 2026 With Donald Trump's Iran ceasefire on the verge of collapse, Tehran is threatening to close the Bab el-Mandeb Strait, the world's most vital shipping route, to punish the US and Israel, in a move that could send the global economy into a recession.  The regime said on Monday that all diplomatic talks with the US have been suspended, citing Israel's attacks on Lebanon as a violation of the ceasefire, according to state media outlet Tasnim.  The outlet also claimed the regime would activate its Shiite resistance allies in Yemen, Lebanon, and Iraq to shut down the Strait of Hormuz, the global oil passageway responsible for moving one-fifth of the world's oil. But Iran also has its eyes on the Bab el-Mandeb Strait as well. Its name translates to 'Strait of Tears', notorious for treacherous sailing conditions: unpredictable winds, strong crosscurrents, and hidden reefs. If Houthi rebels in Yemen open a new front in the conflict, the strait would be an obvious target, according to Reuters.  The Bab el-Mandeb Strait is a roughly 18-mile-wide chokepoint between Yemen and the Horn of Africa that links the Red Sea to the Gulf of Aden. It is the gateway through which nearly all cargo and energy shipments traveling between Europe and Asia must pass. Its closure would have a devastating effect on the global economy, with energy analysts warning that oil could spike to $180 per barrel if peace talks collapse entirely. 'Let’s assume that there is no deal and fighting restarts between the U.S. and Iran, we’ve seen a scenario of $180 per barrel by August, and that will mean a severe global economic recession, particularly in Europe and particularly in emerging Asia,' Jorge León, head of geopolitical analysis at Rystad Energy, told CNBC.  The regime warned that any violation there would be treated as a violation of the entire ceasefire, and that the US and Israel would face the 'consequences' of their actions Trump has said he does not care if talks with Iran collapse, but also claimed that negotiations remain ongoing The Bab el-Mandeb Strait is a roughly 18-mile-wide chokepoint between Yemen and the Horn of Africa that links the Red Sea to the Gulf of Aden. It is the gateway through which nearly all cargo and energy shipments traveling between Europe and Asia must pass In response to the latest cut off all diplomatic talks by Iran, Trump said he did not care if negotiations fall apart.  'I really don’t care. I couldn’t care less,' Trump told CNBC.  The President also said he was not worried about energy prices spiking over Tehran's threats to shut down the Strait of Hormuz.   'I think the oil will be dropping like a rock in the very near, you know, the very near distance,' Trump said. Oil markets went into a frenzy following news of the ceasefire's collapse, with crude prices climbing more than six percent. Trump held a phone call with Israeli Prime Minister Benjamin Netanyahu on Monday following Tehran's announcement.  The President said he was 'going to ask' Netanyahu about 'what’s going on with Lebanon.'  Trump said on Truth Social that, after speaking with Netanyahu, no troops would go to Beirut and any en route had been recalled. The Strait's closure would have a devastating effect on the global economy, with energy analysts warning that oil could spike to $180 per barrel if peace talks collapse entirely 'Likewise, through highly placed Representatives, I had a very good call with Hezbollah, and they agreed that all shooting will stop — That Israel will not attack them, and they will not attack Israel,' Trump added.   Trump later claimed that 'talks are continuing, at a rapid pace, with the Islamic Republic of Iran.'  Israel remains hesitant to include Lebanon in the ongoing ceasefire with Tehran, viewing that conflict as separate from the broader war. The US has tried to mediate between Israel and Lebanon over the past few weeks, pushing for a temporary ceasefire while Trump negotiates a long-term peace agreement with Tehran. Israeli forces over the weekend captured a strategic site in Lebanon, marking their deepest military incursion into the country in over 26 years. 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