Sen. Mike Rounds, R-S.D., told Newsmax on Tuesday that despite Iran's threats to disrupt global oil shipments through the Strait of Hormuz, energy markets have not experienced the major price spike many analysts feared.
He credited U.S. military actions and expectations that the conflict will remain limited.
On "Ed Henry: The Big Take," Rounds said lawmakers are closely monitoring energy prices as tensions in the Middle East continue, with coordinated airstrikes on Iran by the United States and Israel ongoing.
He noted that concerns about fuel costs are common whenever instability threatens key global shipping routes.
"We're always concerned when we talk about fuel prices, energy prices in general, and we're always watching them," Rounds said.
Iran has warned it could attempt to disrupt traffic through the Strait of Hormuz, a strategic waterway through which a large share of the world's oil supply passes. Rounds said, however, that markets have so far avoided a dramatic surge in prices.
According to the senator, one reason is that U.S. forces have already weakened Iran's capacity to carry out such threats.
"Our Navy and our Air Force already took out most of their naval operations and took out a lot of their ability to actually mine that area," Rounds said.
He acknowledged that short-term volatility is still possible as traders react to developments in the region.
"For the next few days, as there is some volatility in it, you would expect that the folks that watch the futures and so forth will start to bid up the price," he said.
Rounds also pointed to assurances from the White House that the U.S. military campaign is intended to be limited. He said lawmakers had just come out of a classified briefing on the situation.
"The president has made it pretty clear that this is a limited operation. That's what our goal is," Rounds said.
He added that U.S. service members in the region have carried out operations largely as planned, targeting missile launchers and other military assets believed to have been used in attacks.
"Our young men and women are doing a great job in the Middle East. It has gone along as anticipated," Rounds said. "We've taken out a significant amount of the launchers and so forth that we were going after to begin with."
As attacks decrease, Rounds predicted markets will begin to settle.
"Over the next couple of days, as they start to see fewer and fewer of those attacks coming across, I think some stability will return to the market," he said, adding that it could take longer before any sustained change in crude oil prices affects gasoline costs for Americans.
GET TODAY NEWSMAX+:
NEWSMAX is the fastest-growing cable news channel in America with more than 30 million people watching!
Reuters Institute reports NEWSMAX is one of the top news brands in the U.S.
You need to watch NEWSMAX today.
Get it with great shows from Rob Schmitt, Greta Van Susteren, Greg Kelly, Carl Higbie, Rob Finnerty – and many more!
Find the NEWSMAX channel on your cable system – Go Here Now
BEST OFFER:
Sign up for NEWSMAX+ and get NEWSMAX, our streaming channel NEWSMAX2 and our military channel World at War.
Find hundreds of shows, movies and specials.
Watch NEWSMAX+ on your smartphone or home TV app.
Watch NEWSMAX anytime, anywhere!
Start your FREE trial now: NewsmaxPlus.com
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
© 2026 Newsmax. All rights reserved.