War and Iran's Closure of the Strait of Hormuz Sparks Panic at the White House as Global Oil Prices Surge
Washington — The implications of President Donald Trump’s decision to attack and initiate war against Iran have sent shockwaves through the White House, with government officials entering panic mode upon learning that global oil prices have surged to over $100 per barrel in early trading this week, according to a Raw Story report published on Wednesday, 11 March 2026.
According to Financial Times, Trump was reportedly “extremely angry” upon witnessing global oil prices reaching $120 per barrel on Monday. This information has been confirmed by insiders within the White House to Politico.
The panic at the White House has exposed a fundamental miscalculation by the current US administration. Officials within the Trump government appear never to have anticipated that military operations in the Middle East would send energy markets into chaos.
However, according to a former Trump administration official, a “multi-week, consistent reading” of oil prices would be required before the administration would reconsider its war decision. “Small temporary fluctuations are not something they would use as a basis for their policy,” the source said, signalling that temporary oil price spikes would not alter military decisions.
Nevertheless, the surge in global oil prices on Monday has shocked White House circles. “In the worst moment that night, it was crazy,” said someone close to White House circles.
Rather than reversing its decision regarding aggression against Iran, the Trump administration has instead focused on controlling the fallout, providing assurances to panicked oil brokers about supply chain stability whilst calming Republican Party politicians who are anxious about the implications.
Republican members of Congress reportedly worry that the Iran war contradicts their campaign messaging in this year’s midterm elections regarding lowering the cost of living. Meanwhile, public concern on the matter is substantial.
According to Quinnipiac polling, over 70 per cent of voters have expressed concerns that the war will drive up oil and petrol prices. White House spokesperson Taylor Rogers affirmed that the oil price increase is temporary, describing Trump’s view of the price surge as a “short-term disruption”.