Trump Pushes Higher Gas Prices; Iran Policy Shifts

Former President Trump urged Americans to accept a small rise in gasoline prices to help prevent Iran from obtaining a nuclear weapon and suggested the Strait of Hormuz could be seized if Iran is defeated, as global oil markets remain volatile. Iran replied that control of the Strait rests with Tehran and offered no resumption of talks, with negotiations at a standstill. The conflict has disrupted tanker traffic and pushed U.S. gasoline prices toward about $4.08 per gallon, while Hormuz traffic has declined sharply. Vice President JD Vance and Treasury Secretary Scott Bessent have reframed U.S. goals to prioritize keeping oil and gas affordable for Americans, while pursuing continued economic pressure on Tehran and making nuclear containment secondary. The shift comes amid mounting domestic political pressure ahead of the midterms and questions about public support for the war. Negotiations remain blocked as Tehran conditions any resumption of shipping on its terms.