President Donald Trump reportedly met with oil and gas executives Tuesday to discuss the effects of the Iran war.
Trump convened top industry leaders at the White House as the Middle East conflict continues to disrupt global energy markets and drive prices higher, Axios reported Wednesday.
The meeting included Chevron CEO Mike Wirth and senior administration officials such as chief of staff Susie Wiles, Treasury Secretary Scott Bessent, and advisers Steve Witkoff and Jared Kushner.
The high-level talks underscore the mounting economic stakes of the Iran conflict, which has effectively choked off a major portion of the world's oil supply.
With the Strait of Hormuz, a critical artery for global energy, largely shuttered, crude prices have surged to multi-year highs, fueling rising gasoline costs for American consumers.
For Trump, the meeting reflects a hands-on approach to managing the geopolitical crisis and its domestic fallout.
A White House official told Axios the president regularly engages with energy executives to gauge market conditions and shape policy decisions on production, exports, and pricing.
The stakes are significant. Average U.S. gas prices have climbed above $4 per gallon, levels not seen since 2022.
At the same time, the supply crunch has created new opportunities for American energy producers, particularly in oil and liquefied natural gas exports.
Trump has leaned into that advantage, touting U.S. energy dominance as a strategic tool to counter adversaries.
The administration has already taken steps to blunt price spikes, including regulatory moves to ease domestic shipping constraints, though options remain limited in the face of global supply shocks.
Meanwhile, the broader conflict with Iran continues.
The standoff has taken on what some analysts describe as a "Cold War"-style dynamic, with economic pressure, military positioning, and stalled diplomacy defining the current phase.
On Wednesday morning, Trump criticized Iran's leadership for failing to reach a nonnuclear agreement.
"Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" he wrote on Truth Social, signaling continued frustration with Tehran's stance.
Despite the tensions, the administration maintains that its strategy, combining military strength with economic leverage, is yielding results.
Iran's economy has been squeezed by sanctions and restricted oil exports, even as global markets feel the ripple effects.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
© 2026 Newsmax. All rights reserved.