The White House and Donald Trump are in a state of high alert as Iran’s inflexible stance leaves little room for optimism regarding the reopening of the Strait of Hormuz. On Tuesday, April 28, 2026, the American president and top aides met at the White House with oil and gas executives to discuss the energy implications of the war with Iran, according to Axios. The unprecedented supply disruption in the Middle East is driving commodity prices upward, creating a volatile mix of opportunities and risks for the industry.
The White House meeting
Among those attending the meeting was Chevron CEO Mike Wirth, as confirmed by a company spokesperson. Also present were White House Chief of Staff Susie Wiles, Treasury Secretary Scott Bessent, and envoys Steve Witkoff and Jared Kushner, according to a source familiar with the gathering. "The President frequently meets with energy executives to hear their views on domestic and international energy markets," a White House official stated. The agenda included domestic production, progress in Venezuela, oil futures, natural gas, and shipping logistics.
Concerns over political fallout from skyrocketing fuel costs
According to the same reports, Trump and Republicans in the Capitol are preparing for the political consequences of high gasoline prices in the US, which are directly linked to international crude prices currently facing a historic supply squeeze. The average price of gasoline in the US hit 4.18 dollars per gallon on Tuesday, marking the highest price since the war began and the most expensive level since 2022. The White House has taken measures to curb the rally, such as suspending the Jones Act, which requires ships moving goods between domestic ports to be US-built and owned, though options to mitigate the market shock remain limited.
Oil price rally
Meanwhile, oil prices continue their ascent as, beyond the closed Strait of Hormuz, traders weigh the shocking exit of the United Arab Emirates from OPEC. June Brent futures traded 3% higher at 114.64 dollars, extending gains after a seventh consecutive positive session. US crude (WTI) futures for June delivery rose 3.6% to 103.54 dollars per barrel.
Trump’s new AI-powered threat to Iran
The US President issued a fresh threat to Iran via Truth Social, stating the country "better get smart soon!" and accusing the Tehran leadership of failing to "get its act together." 
"Iran cannot get it together. They don't know how to sign a non-nuclear deal. They better get serious soon," Trump wrote. However, what drew significant attention was the accompanying image: a cinematic, hyper-realistic AI-generated depiction of himself on a battlefield, dominated by the slogan "No More Mr. Nice Guy."
The UAE exit from OPEC
The market remains in shock over the sudden decision of the United Arab Emirates to leave OPEC, though analysts estimate the move may have a limited immediate impact due to the ongoing Middle East crisis. Strategists at ING noted that the UAE's departure is a "heavy blow" to OPEC and would be welcomed by Trump, as it erodes the group's market influence while potentially benefiting importers and consumers. "However, in the short term, the most important factor for oil prices remains the evolution of events in the Persian Gulf and the timing of oil flow resumption through the Strait of Hormuz," they added.
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