# Trump's Iran Policy Faces Dilemma Ahead of Midterms Former commerce secretary Ross evaluates oil prices and political risks. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-07-23 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/952f9104-26d8-4677-a02f-86ed0a6c7d94 ## Iran Crisis and Elections President Trump faces rising oil prices and a political dilemma ahead of the midterms due to the Iran crisis. Former commerce secretary Wilbur Ross highlights the pressure this puts on Trump's election strategy. ## Strategic Importance of Hormuz Strait The Hormuz Strait, bordering Iran, is a vital artery for global oil trade. Conflicts have reduced traffic through the strait, leading to a drop in supply and a spike in prices, directly impacting consumers. ## Political Impact of Oil Prices Ross warns that oil prices reaching $5 per gallon could pose a significant risk for Trump in the midterms. High prices may weaken voter support for the president. ## Pressure on Big Oil Companies Trump is pressuring oil companies to lower prices. Ross emphasizes the need for companies to increase production and reduce profit margins at gas stations. ## Iran's Waiting Strategy Iran is betting on Trump losing political power. Ross explains that Iran aims to prolong the crisis to put Trump in a difficult position. ## Critical Role of Midterms The midterms are a crucial factor shaping Trump's Iran policy. Ross stresses that the election results will be decisive for both Trump and Iran. ## Sources covering this story - https://fortune.com/2026/07/23/trump-catch-22-iran-oil-inflation-withdraw-midterms/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._