The day after President Donald Trump announced a two-week ceasefire with Iran, dozens of congressional Republicans issued statements of support for the administration’s peace talks.
But lawmakers largely stayed away from one key topic: oil.
Crude oil prices fell after Trump announced Tuesday night that the Strait of Hormuz would reopen under the ceasefire agreement. Many Republicans were looking forward to the midterm elections.
But despite the ceasefire, it is unclear when international oil shipments through the Strait of Hormuz will return to normal, and there are concerns that Iran is gaining more power over the waterway that carries about 20 percent of the world’s oil traffic.
“This is an important step toward ending the conflict, but we need to remain vigilant,” said Senator John Hoeven (R-N.D.), a member of the Energy and Natural Resources Committee. “We must maintain pressure on Iran to follow through on its commitment to reopen the Strait of Hormuz and agree to a deal that achieves our objectives.”
In fact, Iran’s state media reported on Wednesday that the country would again take steps to close the strait if Israel continued bombing targets in Lebanon. The White House said Lebanon was not part of the ceasefire and downplayed the threat of a shutdown.
Still, the president appears open to Iran maintaining some influence over the strait and charging ships fees to transit. This is a matter of concern for industry leaders.
“I think there are some troubling aspects of the so-called negotiated document, but only time will tell. I look forward to the architects of this proposal, the Vice President, and others coming before Congress and explaining how the negotiated agreement meets our national security objectives in Iran,” Sen. Lindsey Graham (R-S.C.), a longtime supporter of Iran, wrote on X regarding initial reports on the ceasefire agreement.
Other Republicans were less specific in their response. Energy and Natural Resources Chairman Mike Lee (R-Utah) wrote on social media that the ceasefire was “excellent news.” But he did not address concerns about falling oil prices or energy markets on Wednesday, and his office did not respond to a request for comment.
On the House side, Energy and Commerce Chairman Brett Guthrie (R-Ky.) similarly kept his armistice remarks focused on military objectives rather than the conflict’s energy impacts.
“I pray that the end of hostilities will be permanent, that the Iranian regime will permanently end its nuclear ambitions, and that the spread of terror will be stopped forever,” Guthrie wrote.
Senator Kevin Cramer (R-N.D.), another outspoken Republican on energy issues, expressed caution when celebrating the ceasefire agreement. “We have to keep our eyes open, not that the Iranian regime is good at keeping its word, but in my mind, this is a very good success,” he said in a statement.
Rep. Andy Biggs (R-Ariz.) was one of the only GOP lawmakers to comment about energy and Iran on Wednesday. But rather than draw attention to falling oil prices, he argued for American energy independence.
The president and his aides are casting their support for more U.S. fossil fuel production as an insurance policy against global disruptions, even as average gasoline prices rose to more than $4 from $3.25 a year ago.
“If the last two months have taught us anything, it’s that we cannot put a price on American energy independence and dominance,” Biggs wrote on social media.
Democrats continue to attack
The ceasefire announcement and falling oil prices did not weaken the Democrats’ campaign that the administration’s war – and other policies – are hurting American consumers.
Minority Leader Chuck Schumer highlighted the ongoing instability in the Strait of Hormuz during a press conference on Wednesday and said he does not expect prices at the pump to drop anytime soon.
Schumer said, “Here at home, American families have paid the price of this war. Gas prices have skyrocketed in a matter of days. They’re not going to change until August. And in general, world oil markets will be volatile for years.”
House Energy and Commerce Ranking Member Frank Pallone (D-N.J.) said, “Even though there is now a ceasefire, the oil supply chain has unfortunately been disrupted – and may be for a long time.”
Iran’s control over Strait of Hormuz traffic – something it did not have before – is also giving Democrats ammunition against the president’s decision to join with Israel in attacking Iran.
“A waterway that was free to the world is now a toll booth that Iran controls,” Rep. Mike Levin (D-Calif.) wrote on social media. “Every barrel of oil that is taxed raises prices for American families.”
Andres Picon contributed to this report.
