US President Donald Trump on Saturday gave Iran a 48-hour deadline to open the Strait of Hormuz to shipping traffic or face the destruction of its energy infrastructure.

"If Iran doesn't FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!" Trump posted on his Truth Social platform. 

Since the US and Israel launched the war against Iran on 28 February, Iran has effectively closed the strait in retaliation.

Around a fifth of the world's crude oil and liquefied natural gas passes through the strait during peacetime, with the closure  sending countries reliant on the shipping lane scrambling for alternative routes and tapping reserves.

The hit to supplies from the Gulf has caused  fuel prices to spike worldwide, threatening governments with widespread inflation the longer the war continues.

The US military said earlier on Saturday that it had damaged an Iranian bunker housing weapons threatening oil and gas shipments in the Strait of Hormuz.

The statement appeared designed to calm the concerns of energy markets and of Washington's skeptical international allies, more than 20 of whom issued a statement vowing to back efforts to re-open the key sea lane.