The war in Iran has reached the 60-day mark, with President Trump apparently willing to live with an extended Strait of Hormuz blockade and little sense that Congress will meaningfully push back.
It all points to a conflict with no clear end in sight.
The war has entered a phase in which fighting is largely (but not entirely) halted, while shipping in the Strait of Hormuz is also largely blocked (though some ships are getting through). That has left shippers in deep uncertainty, with energy markets feeling the pressure this week, including a new high in gasoline prices in the US.
From the White House — despite regular threatening posts from the president — a wider array of signals suggests the administration is preparing for a lengthy staring contest.
On Wednesday, the Wall Street Journal reported that Trump is telling aides to prepare for an extended US naval blockade of the strait after the president also fit in a meeting with oil executives on Tuesday during the visit from King Charles.
Read more: What an extended war with Iran could mean for gas prices
President Trump arrives for the state dinner at the White House on Tuesday. (Aaron Chown/PA Images via Getty Images) · Aaron Chown – PA Images via Getty Images
Meanwhile, Treasury Secretary Scott Bessent on Wednesday morning further laid out what the administration is terming a “maximum pressure campaign,” claiming that Iran is facing approximately $170 million per day in lost revenue and will be forced to capitulate.
But the pressure campaign hasn’t moved the Iranians from their position that nuclear talks should be shelved until after the Strait of Hormuz is reopened.
Iran’s foreign minister traveled to Moscow this week to meet with Vladimir Putin and tout “the depth and strength of our strategic partnership.”
Read more: How oil price shocks ripple through your wallet, from gas to groceries
One positive strait development
This week, a Japanese vessel reportedly carrying 2 million barrels of oil, which had been stuck behind the Strait of Hormuz since February, was able to transit.
Japan’s Prime Minister Sanae Takaichi confirmed the passage and called it “a positive development” while noting that other Japanese vessels remain stuck in the Persian Gulf.
Kpler energy analyst Yui Torikata called the ship’s crossing “a very symbolic event,” but also noted that the normalization of traffic through the strait remains far off.
Japan’s Prime Minister Sanae Takaichi is seen in Tokyo on April 23. (Kazuhiro Nogi/AFP via Getty Images) · KAZUHIRO NOGI via Getty Images
Overall, oil futures, including those for Brent crude (BZ=F) and West Texas Intermediate (WTI) crude (CL=F), remained above $100 per barrel.
Prices at the pump took another leg up this week, with gas now averaging above $4.20 per gallon, according to AAA, the highest in 2026.
Other analysts said that additional effects could begin to be felt in the weeks ahead.
Henrietta Treyz of Veda Partners noted that “food price spikes hit 60-90 days after crude prices spike historically.”
Read more: It’s not just gas prices. How the Iran war is coming for your grocery bill.
Increased congressional scrutiny — but little expectation of action
Under a War Powers Resolution passed in 1973, Congress can assume a larger role after 60 days from the beginning of hostilities and even potentially force the administration to wind down the conflict.
This week, Semafor reported on “restlessness” among even some members of the GOP, but there is little sense that Trump will be forcefully restrained anytime soon.
Yet the issue of congressional oversight could be front and center on Wednesday as Secretary of Defense Pete Hegseth and Chairman of the Joint Chiefs of Staff Dan Caine are set to testify before Congress and answer questions from lawmakers for the first time in over a month.
Secretary Hegseth arrives to a state arrival ceremony on the South Lawn of the White House on April 28. (Andrew Harnik/Getty Images) · Andrew Harnik via Getty Images
Despite possible fireworks as the Trump officials answer questions from Democrats, Signum Global Advisors said in a note to clients that any moves in Congress to meaningfully constrain the administration “are unlikely to succeed” absent a major escalation from Trump.
That’s because, the group notes, the White House could move to delay a vote, Trump allies like House Speaker Mike Johnson could block action, and the administration could even challenge a resolution in court in the unlikely event it is passed.
Ben Werschkul is a Washington correspondent for Yahoo Finance.
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