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Posted on 04/12/2026 9:10:49 AM PDT by Miami Rebel
President Donald Trump was non-committal on what could happen to the price of oil ahead of November’s midterm elections — even floating the prospect that they could go “a little bit higher.”
In an interview on Sunday Morning Futures, Fox News anchor Maria Bartiromo quizzed Trump on whether his newly-announced naval blockade on ships going in and out of the Strait of Hormuz.
“Is this all going to be enough, the blockade in the strait, the opening up capacity in the United States, is this going to enough to lower the price of oil and gas, sir?” Bartiromo said.
The president responded that oil prices will go down “eventually,” but his short-term forecast was less rosy.
“Well, it’s eventually going to be lower,” Trump replied. “No, it might not happen initially, but it’s gonna go down when this is all over.”
The president went to claim, “the gas hasn’t gone up as much as I thought.”
“But regardless, even if it did… we have to stop this group of people from having [a nuclear weapon],” Trump said. He added, “You can’t let them have a nuclear weapon. So I just have the greatest economy ever, everything’s going along and … I tell my economic advisors, ‘I’m sorry, fellas, we’re in great shape. We have go and take a little journey down to Iran, and we have to stop them from having a nuclear weapon.’ They all said, ‘we agree.'”
Bartiromo tried to press Trump on a timeline for when prices might come down.
“So do you believe the price of oil and gas will be lower before the midterm elections?” Bartiromo asked.
But Trump seemed far from optimistic a price reduction would happen in time for the fall.
“I hope so,” Trump said. “I mean, I think so. It could be. It could be. Or the same. Or maybe a little bit higher. But it should be around the same. I think this won’t be that much longer.”
Oil traded as high as $115 per barrel last week prior to the announcement of a two-week ceasefire. It ended the week just over $89 per barrel, but seems highly likely to spike on Monday following the announcement of the blockade.
Consumers have been seeing those higher prices reflected at the pump. GasBuddy, a website which tracks gas prices, currently has the national average at $4.10 per gallon, up from just over $2.90 in early March.
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I was paying over $5/gal here in Upstate NY...and the Biden administration was TOTALLY the cause of that robbery.
Gonna have to switch to larger size cotton boxer shorts, eh?
This could cause Joe Biden’s 20 million illegal aliens to have to raid construction sites to steal some gas to drive to the polls.
Totally misleading headline when you read his answer- which covers all the basis (and i can’t blame him)
“I hope so,” Trump said. “I mean, I think so. It could be. It could be. Or the same. Or maybe a little bit higher. But it should be around the same. I think this won’t be that much longer.”
“I mean, I think so. It could be. It could be. Or the same. Or maybe a little bit higher. But it should be around the same. I think this won’t be that much longer.”
You’re right on the money: that covers just about all the bases, save an alien invasion or the Apocalypse.
Trump could just detonate a few nukes underground in the right places in the UAE to make a new canal around the horn of the Musandam Peninsula and solve the problem peacefully. They could call it the Trump canal to stroke his ego. If oil prices are high, and the economy tanks, the Rats could take control of one or both Houses of Congress. Trump should have waited until after the midterms to kick over this hornets nest. Trump could get impeached a third time in January 2027.
Iran, open the Strait, or else.
*****
I’m going to block the Strait.
It would be less work to make a canal through Oman on the Musandam Peninsula. They could make a mint from this.
“Rats could take control of one or both Houses of Congress.”
That was highly likely the day Trump was sworn in for the second time.
The wimpy Congressional Republicans were doomed to lose both the House and Senate before the first bomb was dropped.
“Trump should have waited until after the midterms to kick over this hornets nest.”
Yes, except we faced an “imminent threat,” so he couldn’t delay, remember? What that imminent threat was remains a secret to the American people, which undoubtedly has undermined public support for the war.
For W’s Iraq War, his administration worked hard both before and after hostilities began to rally domestic and international support. While the evidence of WMD proved to be less than 100% convincing, the effort paid off for a considerable duration.
I think the markets are correct on that, or at least very close.
The war will be over soon, and oil prices will drop, but they will not go back to the pre-war level. They will likely settle at about what the October futures are predicting—about 10% higher than what they were pre-war…and gas prices will be then about 10% higher than pre-war also…….not good for the midterms.
The world doesn’t operate on futures.
The war was going to be over soon a month ago. Could it end next week? Sure. Could it end in October? Also sure.
At any rate, I’ll probably book some profits in my energy holdings Monday am. There should be a nice pop.
We will keep the Senate for sure. Likely lose the House by a few seats.
Financial markets certainly do work on futures!
Take out the Iranian refineries Ukrainian style so gas prices soar in Tehran. Soon only connected people will have gasoline. They will be easily targeted.
I am not so sure about that. Of the 35 seats in the midterms, the Republicans are defending 22, and the democrats only 13!
Please don’t let a Democrat Congress be Trump’s legacy.
“It would be less work to make a canal through Oman on the Musandam Peninsula.”
The UAE has a pipeline to export its oil.
Saudi Arabia does too.
Iran will let its own oil out as well as that of Shiite Iraq.
That only leaves Kuwaiti oil stuck.
I agree, but every day longer thus war lasts, the more likely that might be the case…..especially since some states have early voting in October.
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