In the day following President Donald Trump's announcement of a two-week ceasefire with Iran, dozens of congressional Republicans released statements supporting the administration's peace negotiations. However, the lawmakers largely avoided commenting on oil prices and market implications.

The ceasefire agreement included the reopening of the Strait of Hormuz, a critical waterway that carries roughly 20 percent of the world's oil traffic. Crude prices tumbled following Tuesday's announcement, a development many Republicans had hoped would benefit consumers heading into midterm elections.

What the Right Is Saying

Sen. John Hoeven (R-N.D.), a member of the Energy and Natural Resources Committee, offered measured support while emphasizing vigilance. "This is an important step toward ending the conflict, but we need to remain vigilant. We must maintain pressure on Iran to follow through on its commitment to re-open the Strait of Hormuz and agree to a deal that achieves our objectives," Hoeven said.

Sen. Lindsey Graham (R-S.C.), long an Iran hawk, expressed concerns about the negotiating document on social media. "The supposed negotiating document, in my view, has some troubling aspects, but time will tell. I look forward to the architects of this proposal, the Vice President and others, coming forward to Congress and explaining how a negotiated deal meets our national security objectives in Iran," Graham wrote.

Energy and Natural Resources Chair Mike Lee (R-Utah) simply called the ceasefire "excellent news" on social media but did not weigh in on oil price declines or lingering concerns about energy markets.

Sen. Kevin Cramer (R-N.D.) struck a cautious tone while celebrating the agreement. "We have to keep our eyes wide open obviously, it's not like the Iranian regime is good for keeping its word, but in my mind, this is a pretty good breakthrough," he said in a statement.

Rep. Andy Biggs (R-Ariz.) was one of the few GOP lawmakers to comment about energy and Iran, arguing for American energy independence. "If the past two months have taught us anything, it's that we can't put a price tag on American energy independence and dominance," he wrote on social media.

What the Left Is Saying

Minority Leader Chuck Schumer highlighted continued volatility in the Strait of Hormuz during a Wednesday press conference and said he didn't expect prices at the pump to ease anytime soon. "At home here, American families have paid the price for this war. Gas prices have skyrocketed in just a matter of days. They're not going to change until August. And in general, the world oil markets will be unsettled for years," Schumer said.

House Energy and Commerce ranking member Frank Pallone focused on supply chain disruptions. "Even though there's now a ceasefire, the oil supply chain has unfortunately been disrupted — and may be for a long time," he said.

Democrats also seized on concerns about Iran's increased control over the Strait. Rep. Mike Levin wrote on social media: "A waterway that was free to the world is now a toll booth that Iran controls. Every barrel of oil that gets taxed on the way through raises prices for American families."

The Democratic campaign argued that the administration's war and related policies were hurting American consumers, noting that average gasoline prices spiked from $3.25 a year ago to more than $4.

What the Numbers Show

Crude oil prices tumbled following the Tuesday announcement that the Strait of Hormuz would reopen as part of the ceasefire agreement.

The Strait of Hormuz carries roughly 20 percent of the world's oil traffic, making it a critical chokepoint for global energy markets.

Average gasoline prices spiked from $3.25 a year ago to more than $4, according to the source article.

Iran state media reported Wednesday that the country would move to close the strait again if Israel kept bombing targets in Lebanon, though the White House said Lebanon was not part of the ceasefire.

The president has appeared open to Iran keeping some influence over the strait and charging ships for crossing, a provision that has alarmed industry leaders.

The Bottom Line

The ceasefire announcement produced immediate relief in oil markets, with crude prices falling sharply. However, Republicans remain cautious about the long-term implications, particularly regarding Iran's potential control over the Strait of Hormuz.

Key concerns include whether Iran will follow through on commitments, how quickly international oil shipments will normalize, and what influence Tehran will maintain over the waterway. Democrats have used the moment to renew criticism of administration policies they say have raised costs for American families.

What to watch: Whether Congress receives detailed briefings on the ceasefire terms, how energy markets respond to any further developments in negotiations with Iran, and whether gasoline prices stabilize ahead of the midterm elections.

The White House has downplayed Iran's threat to close the strait again, noting that Lebanon was not part of the ceasefire agreement. But industry leaders and lawmakers from both parties say they will be monitoring Iran's compliance with the terms of the deal closely.