- Steve Gruber - https://www.stevegruber.com -

Oil Panic, Old Enemies, and Election Fears: A Week of Manufactured Chaos

The war in Iran continues, and the human cost is mounting. A seventh American has reportedly died from injuries sustained in an attack in Saudi Arabia several days ago. It is a high price to pay, but from where I sit, this is a President doing what should have been done over the past 47 years.

At the same time, another kind of battle was unfolding—one in global energy markets. With the Strait of Hormuz effectively closed for a few days—not by Iranian strikes, but by fear—oil prices exploded. A dramatic decision by Lloyd’s of London to revoke insurance coverage for ships moving through the region added fuel to the fire, helping push oil prices to nearly $120 a barrel overnight from Sunday into Monday morning.

But as I reported across all my social media platforms—X, Facebook, Instagram, and TikTok among others—there was simply no justification for an 80 percent surge in the price of oil.

What we saw was speculation, panic, and opportunism.

By yesterday, the price of oil collapsed to $83 a barrel. In fact, during the single hour I was hosting America’s Voice Live, oil dropped from $96 to $83. A thirteen-dollar plunge—in one hour.

So what was really going on? Market manipulation, plain and simple. Speculators and major oil companies shamelessly chasing a massive payday—at your expense and mine. They should be held accountable for that reckless behavior.

There is no supply-and-demand crisis. Not even close. Oil and gas reserves are strong—not just in the United States, but globally. The only real disruptions are tied to China, which has been feeling the sting of its black-market oil supply lines being cut off. Venezuelan oil shipments dried up after the United States removed dictator Nicolas Maduro, and now Iranian oil that had been moving quietly to China has also stopped.

The bottom line: there was no mathematical reason for oil to spike like it did. It was engineered panic—and now prices have crashed back to the low $80 range.

And let’s remember something else. Under Joe Biden, oil reached $139 a barrel. Funny how you didn’t hear Chuck Schumer or Hakeem Jeffries screaming about that. Do you? No—because they didn’t.

Meanwhile, the war itself grinds on. And it will not end until Iran either surrenders unconditionally—as President Trump is demanding—or the Iranian people rise up and reclaim their country from the regime that has ruled them for nearly half a century.

The conflict has created a clear division in America—between those who believe the 47-year-old Iranian problem must finally be confronted and those who would have allowed Tehran to reach the nuclear capability it was clearly pursuing. But some groups have not wavered in their support for confronting the regime.

And speaking of regimes, Venezuela and Iran have both learned the same lesson: President Trump does not issue idle threats. When he says something is going to happen, it usually does.

Which brings us to Cuba.

For decades, the communist government in Havana has been a thorn in America’s side—and nearly triggered nuclear war during the Cuban Missile Crisis. Now, it appears that regime may be on the verge of collapse, and the United States may not even need to intervene.

A few weeks ago, I predicted that Cuba’s communist government was roughly six to eight weeks away from failing. Right now, it looks like that prediction may have been right on the money.

Much of what I learn comes from trusted sources, but nobody in Washington has a better Rolodex than John Solomon—nobody. That brings us to another issue gaining urgency in Washington: the SAVE Act and the long-running concern about foreign interference in American elections.

Election interference isn’t a new phenomenon. It stretches back decades, and many believe it was also a factor in the 2024 election.

Which brings us to the next big political test—the midterm elections.

Will they be secure?

The only real way to guarantee election integrity, supporters argue, is through the Save America Act. Senate Majority Leader John Thune has promised to bring the bill up for a vote, but so far that vote has not happened.

In the meantime, Democrats continue to resist calls for stronger election safeguards. They oppose voter ID requirements and measures that require voters to prove they are citizens and eligible to vote.

Critics say that position is exactly why Democrats supported open borders for four years under the Biden administration—an administration many conservatives argue was run by radicals.

And here’s the political reality heading into the next election cycle: right now, Democrats are the odds-on favorites to win the midterms.

But that could change.

It has already been a kinetic year politically, and the numbers for Trump are not nearly as bad as some media outlets would have you believe.

If those numbers shift the other direction, however, the entire political landscape could change.