Iran defiant as IEA warns energy crisis worse than 1970s oil shocks and Trump ᴅᴇᴀᴅline looms

US President Donald Trump had said Saturday he would order the bombardment of Iran’s power plants if the Strait of Hormuz was not fully open to shipping within 48 hours.

Major crisis”: The IEA warned Monday the energy crisis was worse than the oil shocks in the 1970s. Iran again vowed retaliation if US President Donald Trump follows through on his Saturday threat to attack its power plants if the Strait of Hormuz was not reopened within 48 hours. Iran’s IRGC said: “If you strike electricity, we will strike electricity.”

Stocks plummet: Asian markets plunged Monday after Iran and the US traded threats over the weekend to blow up energy facilities.

Death toll climbs: The number of people reported killed in Iran and Lebanon since the start of the conflict is now in the thousands. Attacks across the region continued Monday morning with Iranian state media reporting strikes in Tehran. Saudi Arabia said it intercepted two ballistic missiles heading toward capital Riyadh.