Democrats have seized on the economic disruption of the Iran war to hammer Republicans over high costs ahead of the 2026 midterm elections.

The move comes as part of Britain's response to the Iran war, with the conflict triggering the largest supply disruption in the history of the oil market.

The announcement comes as the Iran war disrupts global oil and gas supplies, making the U.S.' development of its LNG resources more urgent.

Trump's statement sent oil lower, while equities jumped. Still, the recovery on Tuesday suggests lingering skepticism over Trump signaling a de-escalation.

Sultan Ahmed Al Jaber, CEO of the UAE's state-owned oil company, said the Strait of Hormuz must re-open to resolve the supply shock.