Trump Meets with Oil Industry Executives: "Blockade Against Iran Could Last for Months If Needed"

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U.S. President Donald Trump held a closed-door meeting with oil industry executives to discuss the impact of the Iran war on the energy market and the possibility of a prolonged blockade against Iran.

According to Axios on April 29 (local time), President Trump met the previous day with Treasury Secretary Scott Bessent, White House Chief of Staff Susie Wiles, Middle East Special Envoy Steve Witkoff, and Jared Kushner, President Trump's eldest son-in-law, along with representatives from the oil and gas industries.

Citing a White House official, Axios reported, "They discussed measures that could be taken to minimize the impact on American consumers by maintaining the current blockade for several months if necessary," and added, "The President frequently meets with energy industry executives to hear opinions on domestic and international energy markets."

During the meeting, there was a broad discussion of the current state of domestic energy production and shipping, crude oil futures market trends, and the situation in Venezuela. It was especially noted that the maritime blockade against Iran could continue for several more months.

Since the outbreak of the Iran war, Iran has blockaded the Strait of Hormuz and entered into ceasefire negotiations with the United States. As the blockade of the Strait of Hormuz has disrupted global energy supply chains, Brent crude oil, the international benchmark, surpassed $160 per barrel in March 2026.

In response, the United States launched a maritime blockade against Iran, restricting Iranian-related ships from entering the strait and surrounding waters. Although both sides are engaged in ceasefire negotiations, they have been unable to narrow differences regarding nuclear talks, resulting in a stalemate.

The previous day, The Wall Street Journal (WSJ) reported that President Trump had instructed his staff to prepare for a long-term maritime blockade against Iran. This is interpreted as an effort to maximize economic pressure, rather than resorting to costly military action, in order to secure concessions from Iran.

According to the American Automobile Association (AAA), as of this date, the average gasoline price in the United States stands at $4.23 per gallon, the highest since 2022. In response, the Trump administration recently extended by 90 days a waiver of the Jones Act, which grants U.S. vessels exclusive rights to transport goods between American ports.

Axios pointed out that the current uncertainty is weighing on businesses, and if oil prices remain high for a prolonged period, demand for oil in both the United States and overseas is expected to decline.

This content was produced with the assistance of AI translation services.