US Oil Giants Warn Trump Administration of Potential Energy Crisis from Iran War

Chief executives of major American oil companies have warned officials in President Donald Trump’s administration that an energy crisis triggered by war with Iran could potentially worsen.

According to a Wall Street Journal report from Sunday, 15 March 2026, cited by Reuters, these concerns were raised during meetings between energy industry leaders and US government officials.

Chief executives from ExxonMobil, Chevron, and ConocoPhillips held a series of meetings at the White House on Wednesday of the previous week.

The oil company executives warned that disruptions to energy flows through the strategically important Strait of Hormuz would continue to trigger volatility in global energy markets.

The Strait of Hormuz is one of the world’s most critical oil distribution routes. Any disruption to this passage can have major impacts on global energy supply and prices.

However, Reuters reported that it had not yet been able to independently verify the report.

The conflict increases risks to energy infrastructure whilst keeping shipping lanes in the Strait of Hormuz disrupted, thereby triggering potential disruptions to global supply.

Global benchmark Brent crude oil prices jumped 2.76 dollars, or approximately 2.68 percent, to 105.90 dollars per barrel at 22:04 GMT. Previously on Friday, Brent prices had also risen 2.68 dollars.

The rise in oil prices reflects market concern that the Middle East conflict could trigger a global energy crisis if supply disruptions continue.