Trump's inner circle rush to emergency Situation Room briefing as Iran chokes off world's oil supply

Donald Trump convened an emergency situation room meeting with his inner circle on Saturday to discuss the precarious Strait of Hormuz situation, according to a report.

The meeting came after Iranian gunboats opened fire on cargo ships in the Strait of Hormuz earlier on Saturday after Tehran tightened its chokehold on the key waterway.

The attacks came soon after the regime abruptly reversed a decision to reopen the strait, citing an American statement that the US would not end its blockade of Iranian ports

The President met with Vice President JD Vance, Defense Secretary Pete Hegseth, Treasury Secretary Scott Bessent, and Secretary of State Marco Rubio, among others, Axios reported, citing two US officials.

White House Chief of Staff Susie Wiles, Envoy Steve Witkoff, CIA Director John Ratliffe, and Chairman of the Joint Chiefs of Staff Dan Caine also reportedly attended.

The meeting comes amid reports that US soldiers are preparing to storm Iran-backed ships 'in a matter of days,' US officials told The Wall Street Journal.

The US naval blockade of Iranian ports has already caused 23 ships to turn back ratcheting up economic pressure for Tehran.

US officials believe the blockade will help facilitate a peace deal, a White House spokesperson told WSJ. However, it has enraged Iranian officials who are continuing to blockade the Strait of Hormuz in response, despite the President announcing it was open yesterday.

The narrow waterway facilitates the transportation of 20 percent of the world's oil which has been sent soaring to nearly $100 a barrel due to the current Iranian blockade.

It dropped slightly following reports the Strait had reopened. It is unclear how much oil prices will be affected with the Strait closing again.

The reports emerged against the backdrop of a fragile ceasefire between the US and Iran which is set to end in three days.

If no permanent deal is met, the war will renew and Trump has warned he could 'start dropping bombs again.'

On Saturday, the 79-year-old told the press that Iran can't 'blackmail' the US.

'They wanted to close up the Strait again, as they've been doing for years, but they can't blackmail us,' Trump said.

He insisted his officials were having 'very good conversations' with Tehran. 'We're talking to them.

'It's working out very well. They got a little cute as they have been doing for 47 years,' he added, warning that he would continue to take a 'tough stand' with Iranian leaders.

Trump claimed that talks between the US and Iran are 'going very well,' despite the issue with Iran opening and closing the Strait and threatening ships that enter the oil-rich area.

At least two Indian ships were hit by Iranian fire on Saturday as they attempted to pass through the narrow waterway.

Iran's Supreme National Security Council said the Middle Eastern country is reviewing new proposals from the US, but no decision has been made.

Trump had indicated that he suspects a deal could be made by the end of the day, telling reporters: 'We'll have some information by the end of the day.

'We're talking to them. We're taking a tough stand. They've killed a lot of people. A lot of our people have been killed.'

Trump said on Saturday he is still weighing whether to extend the truce, warning military action remains on the table if talks fail.

The Daily Mail has reached out to the White House for comment.

On Saturday, Mohammad Bagher Ghalibaf, who is leading the Iranian delegation, said any interference with the Strait, including mine clearing, would be considered breaking the ceasefire, The New York Times reported.

Iran also reiterated it wanted the US to remove the blockade from the Strait.

'The Americans have announced a blockade in recent days; this is a reckless and misguided decision,' Ghalibaf said.

'It is impossible for others to pass through the Strait of Hormuz while we cannot. If the United States does not lift the blockade, transit through the Strait of Hormuz will certainly be restricted.'

The continued blockage of the Strait of Hormuz by the US broke the ceasefire deal, Iran said.

It also warned that any vessel that moved toward the Strait would be considered in 'cooperation with the enemy' and would be targeted.

Iran closed the oil-rich waterway just a day after reopening it due to the blockade.