Trump accuses Iran of inflating oil prices ahead of U.S. midterms

Trump claimed Tehran is manufacturing crises to boost crude prices as the 2026 U.S. midterm election approaches.

By Felo News Desk · Published Fri, 23 Oct 2026 02:41:49 GMT

President Donald Trump said Iran is deliberately trying to raise global oil prices ahead of the United States midterm elections, accusing Tehran of fabricating incidents in the Strait of Hormuz.

What happened

In a social‑media post on October 23, 2026, Trump asserted that Iran is “doing everything they can to drive up the price of oil prior to the U.S. Midterm Election.” He added that oil shipments through the Hormuz corridor remain high and that Iran is creating “fake hits, mines, and everything else.” The claim follows a recent Iranian statement taking responsibility for striking oil tankers near the strait.

What the reports add

Deccan Chronicle reproduced the full text of Trump’s post, including his allegation that “75,000 protestors lie dead in less than seven months” in Iran, and his warning that Tehran must never acquire nuclear capabilities. CBS News reported the same claim that Iran is trying to drive up oil prices, but its coverage focused on the broader context of rising U.S. gasoline prices and the timing of the midterm election, without repeating the protest death figure.

What was said

"Iran is doing everything they can to drive up the price of Oil prior to the U.S. Midterm Election. They are even making up fake hits, mines, and everything else," Trump said, according to Deccan Chronicle.
"They continue to kill protestors, and anyone else that happens to be in their way. It is truly an Evil Regime," the president added, also reported by Deccan Chronicle.
CBS News cited Trump’s claim that Iran is intentionally raising oil prices ahead of the midterms, noting the statement was made as U.S. gas prices rise.

How it came about

Trump’s accusations follow a series of statements linking Iran to higher fuel costs. Earlier in September, Felo News reported Trump denying any sanctions relief for Iran while oil futures climbed (trump-denies-iran-sanctions-relief-oil-prices-rise). A September 29 article noted oil prices rising as Trump rejected Iran’s plan to reopen the Hormuz strait (oil-prices-rise-above-100-after-trump-rejects-hormuz-plan). The president has repeatedly tied Iran’s actions to domestic political narratives ahead of the November midterms, as seen in his recent remarks on French riots and immigration (trump-france-riots-immigration).

Key facts

President Donald Trump claimed Iran is deliberately raising oil prices ahead of the U.S. midterm elections. (deccanchronicle.com)
Trump said Iran is fabricating incidents such as fake hits and mines in the Strait of Hormuz. (deccanchronicle.com)
CBS News reported Trump’s claim that Iran is trying to drive up oil prices as U.S. gasoline prices rise. (cbsnews.com)