Oil prices are rising because the president is mishandling the war in Iran.
Posted by Bulwark Takes, Checked
- Sources
- 3 support3 context
- Said
- 1 time·
- Confidence
- 45%
Bulwark TakesAug 21, 2026
Sources firmly establish that oil prices surged after the Iran war began in late February 2026 and stayed above $100 through August, but they attribute the spike to the war and the Strait of Hormuz disruption itself.
This claim is about the present, so it is judged as of the day it was checked.
What was said
… That's a good thing. Like, we should. On the other hand, it is funny that this guy who is constantly with his shit eating grin, who insists that he's the smartest person in the world, looks at this thing for which there's an obvious answer: Why are oil prices going up? Because the president's fucking up the war in Iran. And then it's like, "I don't understand." So, just sort of for people to understand a little bit about what's happening, I'm gonna try to dumb this down, and then, Katherine, you correct me if I've if I've screwed up. So, you have bonds, right? …
Bulwark Takes · · from the transcriptPost →What we found
Supports. Oil prices rose sharply after the war began: crude went from about $67 on Feb 27 to about $99 by March 1 and stayed near that level for months, with Brent above $100 in August and later.[4][5][6]
Context. Analysts attribute the price surge to the war and Iran's disruption of the Strait of Hormuz, which carried roughly a fifth of the world's oil and gas, rather than to a specific presidential decision.[5][6]
Context. Commentary argues that the administration's assumptions that the war would be brief and that US production would shield the economy from price spikes proved wrong, and JP Morgan said many of its 'economic red lines' had been crossed.[1][4]
Context. Trump has said higher fuel prices are a small price to pay for the war, and the White House said oil prices would drop once the Iran situation is resolved; whether this amounts to mishandling is a matter of political judgment.[2][3]
Context. The claim's core is an evaluative characterisation of presidential conduct used as political criticism, which the sources do not settle as a checkable fact; the post's sarcastic framing ('fucking up') reads as opinion.
Sources
6 sources: 3 fact-checkers, 1 tier 1, 2 not rated
- 1COMMENTARY: How Trump's energy dominance turned into hubrisreuters.com · fact-checker · cited for: context
- 2Trump on gas prices and energy costs since launching the ...apnews.com · fact-checker · cited for: context
- 3Trump said prices are “all coming down now.” They aren’t.politifact.com · fact-checker · cited for: context
- 4JP Morgan struggling to forecast oil prices due to US-Iran warbbc.com · tier 1 · cited for: supports, context
- 5Why the war in Iran might cost Trump and the Republicans ...cbc.ca · not rated · cited for: supports, context
- 6How the Iran war could make Trump an accidental climate ...us.cnn.com · not rated · cited for: supports, context
Where this claim was made
Said in 1 published post
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