Trump Discussed Extended Blockade With Oil Executives

Chevron confirmed that CEO Mike Wirth attended the meeting. (David Paul Morris/Bloomberg News)

President Donald Trump discussed steps the U.S. could take to prolong its blockade of Iran during a meeting with oil and trading industry executives April 28, as the Middle East war continues to drive up prices for crude and other commodities.

The meeting, described by a White House official, included representatives of Chevron Corp. as well as trading houses Trafigura Group, Vitol Group and Mercuria Energy Group Ltd. A Chevron spokesperson confirmed that the company’s CEO, Mike Wirth, attended.  

The White House gathering came as Trump administration officials have been preparing for a more protracted standoff with Iran roughly three weeks into a ceasefire that has halted bombing but hasn’t led to a major breakthrough on a nuclear deal. The Wall Street Journal reported April 28 that Trump has instructed aides to prepare for an extended blockade of Iranian ports — part of the administration’s bid to strangle Tehran’s oil revenue and build leverage against the regime. 

While Trump repeatedly has cast the blockade as indefinite, the oil market has been quick to react to any indications it could drag on longer than expected. Global crude futures surged Wednesday, topping $117 a barrel.

Participants in Tuesday’s meeting discussed ways the Trump administration could keep up its blockade of Iranian ports, if needed, while minimizing impact on American consumers, the White House official said. Axios reported the meeting earlier April 29.

The officials and executives also spoke about efforts the administration has already taken to address the oil market, as the near-closure of the Strait of Hormuz has blocked the flow of about 13 million barrels of crude a day, the official said. The world has been draining pre-war oil inventories — and tapping emergency stockpiles — that have provided a buffer in the short term. Global crude prices have nonetheless surged. 

While the surviving IRGC Leaders are trapped like drowning rats in a sewage pipe, Iran’s creaking oil industry is starting to shut in production thanks to the U.S. BLOCKADE.

Pumping will soon collapse.

GASOLINE SHORTAGES IN IRAN NEXT! https://t.co/Czgy9VsHBO — Treasury Secretary Scott Bessent (@SecScottBessent) April 27, 2026

Treasury Secretary Scott Bessent, who has led the administration’s efforts to impose economic pressure on Iran, hosted the meeting. Other participants included Vice President JD Vance and White House Chief of Staff Susie Wiles, the official said. 

Already, the administration has issued — and extended — a temporary waiver allowing foreign vessels to ship crude and other commodities between U.S. ports and eased sanctions allowing purchases of some waterborne cargoes of Russian crude, among other steps. 

Trump administration officials have repeatedly said oil and gasoline prices will fall after the war ends. But climbing commodities prices weigh heavily on the administration ahead of the November midterm elections that will determine whether Trump’s Republican Party maintains control of Congress. 

A lengthier disruption of shipping through the strait — and the supply of oil in world markets — is expected to push prices even higher.

The U.S. squeeze of Iran’s crude flows is central to the Trump administration’s strategy in the region. Bessent has described the U.S. blockade of Iranian ports as blocking crude sales to deprive Tehran of revenue, while pushing more oil into storage and forcing the closure of some wells. “Iran’s creaking oil industry is starting to shut in production” thanks to the blockade, Bessent posted on X on April 27. 

Executives on April 28 also discussed domestic production, oil futures, natural gas and shipping, as well as progress in Venezuela following the U.S. capture of its former leader Nicolás Maduro, the White House official said.