Oil prices rose in early trading Sunday as a standoff between Iran and the United States prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies.
The price of U.S. crude oil increased 6.4% to $87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 6.5% to $96.25 per barrel.
The market reaction followed more than two days of growing hopes and dashed expectations involving the strait. Iran, which effectively controls the passage, said Friday that it would fully reopen the passage off its coast to commercial traffic. Crude prices plunged more than 9% on the news.
Tehran reversed its decision on Saturday after President Donald Trump said a U.S. Navy blockade of Iranian ports would remain in effect. Over the weekend, Iran's Revolutionary Guard fired on several vessels. Trump reported the forcible seizure of an Iranian-flagged cargo ship that tried to get around the blockade.
What the Right Is Saying
Conservative Republicans have largely supported the administration's firm stance against Iran, arguing that the blockade is a necessary tool to prevent Iran from funding terrorist activities and nuclear weapons development. Senator Tom Cotton of Arkansas called Iran 'the chief sponsor of chaos in the Middle East' and said the U.S. must maintain pressure until Tehran 'fundamentally changes its behavior.'
Foreign policy hawks have argued that allowing Iran to control the strait unchecked would embolden Tehran and threaten allied nations in the region. Commentary from the Heritage Foundation called the blockade 'a legitimate exercise of American power to protect vital international shipping lanes.'
Many Republicans have placed blame for elevated prices squarely on Iran, arguing that Tehran could end the crisis immediately by ceasing its hostile actions. Senator Lindsey Graham of South Carolina said 'Iran is holding the world hostage — the price at the pump reflects Iranian aggression, not American policy.'
What the Left Is Saying
Progressive Democrats and some foreign policy moderates have called for a diplomatic resolution to the standoff, arguing that continued military tension threatens consumers at the pump. Senator Chris Murphy of Connecticut said the administration should pursue 'every possible channel' to de-escalate the situation and protect American families from energy price shocks.
Environmental advocates have also noted that the conflict underscores the need for accelerated investment in renewable energy to reduce dependence on volatile Middle Eastern oil. Progressive groups have argued that the long-term solution to price volatility is transitioning away from fossil fuels entirely.
Some Democrats have questioned whether the U.S. blockade strategy is achieving its intended goals, noting that prices remain elevated despite the military posture. Representative Jim McGovern of Massachusetts said 'sanctions and blockades have not brought Iran to the table — they've only hurt families struggling with gas prices.'
What the Numbers Show
The U.S.-Israeli war against Iran, now in its eighth week, has created one of the worst global energy crises in decades. Crude traded at roughly $70 per barrel before the conflict, spiked to more than $119 at times, and closed Friday at $82.59 for U.S. oil and $90.38 for Brent.
A gallon of regular gas cost an average of nearly $4.05 a gallon in the U.S. on Sunday, according to motor club federation AAA. That's about 8 cents lower than a week ago, but far higher than $2.98 before the war.
Energy Secretary Chris Wright told CNN's 'State of the Union' on Sunday that prices at the pump might not go below $3 a gallon on average until next year. 'But prices have likely peaked, and they'll start going down,' Wright said.
A fragile, two-week ceasefire between the U.S. and Iran is set to expire Wednesday. Even if a lasting deal to reopen the Strait of Hormuz emerges, analysts say it could take months for oil shipments to return to normal levels.
The Bottom Line
The standoff in the Strait of Hormuz continues to drive oil prices upward, with the market sensitive to each development in the eight-week conflict. The expiration of the two-week ceasefire on Wednesday represents a critical juncture — either side could escalate or de-escalate.
For American consumers, the implications are immediate: gas prices remain elevated at over $4 per gallon, and analysts say relief may not arrive until mid-2027 even under optimistic scenarios. Backed-up tanker traffic, concerns about further escalation, and damaged energy infrastructure could delay the return to pre-war price levels.
What happens next depends largely on whether diplomatic channels can produce a lasting agreement to reopen the strait, or whether the ceasefire collapses and military tensions continue to disrupt global oil supplies.