West Texas Intermediate (WTI) crude rose 0.85% to $85.66/bbl on Wednesday, while Brent crude gained 0.83% to $91.71/bbl. The price movement coincided with public criticism from investor Ross Gerber, who argued that escalating energy costs and borrowing rates are intensifying political pressure on the Trump administration regarding the ongoing conflict with Iran.

Political Criticism Amid Rising Costs

Gerber posted on X on Tuesday, stating that "oil prices and rates continue to rise" and asserting that Iran recognizes Trump has "no support" for the war leading into the election. He characterized the market reaction negatively, claiming stocks did not "want any part of trumps war." Gerber further predicted that the administration could not secure a deal to win the war during Trump's presidency.

The investor also referenced Trump's medical exemption from the Vietnam War draft due to bone spurs, stating that a "guy with bone spurs" had "no business starting a war."

Energy Market Data

Volatility in oil markets persisted into the pre-market session on Wednesday. The United States Oil Fund (NYSE: USO) rose 1.11% to $132.13. Retail fuel costs remained elevated, with the national average gasoline price surging to $4.0860/gallon, according to American Automobile Association data. Prices in California, Washington, and Hawaii averaged above $5/gallon.

Geopolitical Tensions

Tensions over the Strait of Hormuz, which handles roughly one-fifth of global oil supply, remained high. Iran’s Secretary of the Supreme National Security Council, Mohsen Rezaee, mocked Trump’s claim of control over the waterway, citing the geographic distance from Washington DC.

Conversely, US Energy Secretary Chris Wright reaffirmed that oil flows were moving through the strait with US military escorting ships. Wright stated that this coordination helped move 30 vessels and claimed flows had surpassed pre-war levels.

Iran is reportedly considering military strikes on targets in Europe if Donald Trump escalates the ongoing conflict, according to insiders cited in a Financial Times report. The disclosure underscores the widening scope of geopolitical tensions and the potential for direct involvement of Western powers.

Geopolitical Implications

The threat signals a significant escalation in rhetoric and strategic posture. While no specific timeline or target list was provided, the mention of European military assets suggests Iran is preparing for broader confrontation scenarios. This development adds uncertainty to global security dynamics.

Market Impact

Such geopolitical risks typically trigger volatility in energy markets and defense stocks. Investors may monitor developments closely for signs of actual mobilization or diplomatic de-escalation efforts.