Brent crude, the international oil benchmark, climbed more than 8 percent and exceeded $ 103 a barrel—the first time it has crossed $100 a barrel since Tuesday, when it briefly traded above $111 a barrel.

Trump’s threat came just hours after marathon negotiations between Iran and the United States in Pakistan’s capital ended without a breakthrough.

Trump also claimed that any ship that has paid a toll to Iran would be stopped in international waters.

However, US Central Command later clarified that only vessels entering or leaving Iranian ports would be restricted, signaling a narrower interpretation of the blockade.

The measure is scheduled to begin Monday at 10 a.m. Eastern Time (14:00 GMT).

Oil prices have experienced dramatic swings since US-Israeli aggression on Iran led Tehran to impose its own partial restriction on shipping in the strait — a vital route for roughly 20 percent of the world’s oil and natural gas shipments.

The IRGC Navy has announced that the strait “will never return to its former state, especially for the US and Israel.”

Tehran has allowed vessels serving friendly nations to pass while barring ships affiliated with aggressor countries and their supporters.

The Iranian parliament has advanced draft legislation to impose transit fees in national currency and explicitly ban US and Israeli vessels.

After reaching above 119 last month, Brent crude fell below 92 last week when Iran and the United States agreed to a two-week ceasefire after more than six weeks of war.

Although Iran has permitted a small number of pre-approved vessels to transit the strait, overall movement remains severely limited.

According to maritime analytics company Windward, only 17 ships passed through the waterway on Saturday, compared with an average of about 130 daily crossings before US-Israeli aggression. 

The temporary ceasefire is officially in effect until April 22.