Iran threatens to close Strait of Hormuz after Trump's ultimatum

Iran has vowed to completely close the Strait of Hormuz if President Donald Trump follows through on threats against Iranian energy. The International Energy Agency chief warned the resulting global energy crisis could be worse than the 1970s oil crises and the Ukraine war combined. A massive explosion also rocked a Valero refinery in Port Arthur, Texas, though it's unclear if it's related to the tensions.