“The Trump administration will pay energy companies hundreds of millions of dollars to abandon their plans to build two wind farms off the U.S. coast, the Interior Department said Monday, in a repeat of a tactic the government used to cancel other offshore wind leases last month,” the New York Times reports.

President Trump said Americans should anticipate paying higher prices at the gas pump “for a little while” as a result of the Iran war, CNBC reports.

Trump also insisted that the U.S. has “total control” in the Strait of Hormuz and that he is the one keeping it closed for now.

“Oil was trading above $100 a barrel again on Thursday after Iranian forces claimed to have seized two cargo ships near the Strait of Hormuz, injecting fresh fear into energy markets with no public indications of a breakthrough in efforts to restart U.S.-Iran peace talks,” the New York Times reports.

“President Donald Trump’s team is no longer making predictions about energy prices,” Politico reports.

“That much was clear Wednesday when administration officials facing lawmakers declined to put a timetable on when the war in Iran would end and the ensuing rise in energy prices would ease, instead offering vague assurances of their track record in lowering prices.”

“The White House is using everything in its toolkit to try to bring down energy prices — but GOP campaign veterans say time is running out if the party is going to avoid a disaster at the ballot box in November,” Politico reports.

“The warning comes as President Donald Trump and his administration continue to send mixed messages on its war against Iran and the resultant spike in U.S. gasoline prices. Prices at the pump have risen by more than a third since the U.S. and Israel launched strikes on Iran and the oil prices that underlie the cost of gasoline remain exceptionally volatile and could jump again in the weeks ahead, just as drivers will hit the road for summer vacations.”

Playbook: “As the war approaches the two-month mark and the prospect of an imminent off-ramp fades, oil prices risk becoming a bigger political liability for the White House heading into the midterms.”

The Economist: “Fifty days into the Iran war the world has lost 550 million barrels of Gulf crude—nearly 2% of last year’s global output. Every month Hormuz stays closed, the world misses out on 7 million tonnes of liquefied natural gas (LNG), worth 2% of its annual supply. Yet in Western countries, which host the largest futures markets, pain remains limited. Petrol is a bit pricier, but most households can still afford to drive. Trucks keep trucking. Planes continue to fly. Fuel stocks remain close to pre-war levels.”

“This comforting picture is deeply misleading. By April 20th the last few oil tankers to cross Hormuz before the war began reached their destinations, in Malaysia and California. There is no buffer left to protect the world from the supply shock, at a time of the year when demand from holiday drivers starts to pick up.”

Energy Secretary Chris Wright said that U.S. gasoline prices likely peaked last week, Bloomberg reports.

“President Donald Trump invoked the Defense Production Act to provide federal funds for a wide range of energy projects, as his administration faces pressure to help curb rising oil and gas costs,” Bloomberg reports.

“America’s allies, stung by soaring energy costs due to Washington’s attacks on Iran, are confronting an uncomfortable truth: The escape route from fossil fuel shocks leads straight into China’s arms,” Politico reports.

“From the European Union and the United Kingdom to South Korea and the Philippines, numerous countries have responded to the war-driven spike in oil and gas prices with calls to accelerate electrification and the rollout of clean energy infrastructure.”

President Trump was interviewed by PBS News:

PBS News: Secretary Chris Wright said on CNN gas may not be lower than $3 until later this year or next year. Is that a concern for the midterms?

TRUMP: I disagree with him totally. I think it’ll come roaring down if it ends. If we end it, if Iran does what they should do, it will come roaring down.

“Secretary of Energy Chris Wright said on Sunday that gasoline prices in the United States had probably peaked but acknowledged that they could remain elevated for months, undermining President Trump’s earlier claim that high fuel prices would be ‘short-term,'” the New York Times reports.

“Mr. Wright had said in early March that the average gas price in the United States would fall below $3 a gallon within ‘weeks’ after President Trump and Israel initiated airstrikes against Iran in late February. But on Sunday, Mr. Wright appeared to backtrack in an appearance on the CNN program State of the Union after the host, Jake Tapper, asked him when it would be ‘realistic’ for Americans to see $3 per gallon prices at the pump.”

“The world has lost over $50 billion worth of crude oil that has not been produced since the Iran ‌war began nearly 50 days ago and the aftershock of the crisis will be felt for months and even years to come,” Reuters reports.

“President Donald Trump on Thursday brushed aside concerns about much higher gas prices because of the Iran war, even as a new poll showed that most U.S. voters blame him for the pump price spike,” CNBC reports.

Said Trump: “Well, they are not very high.”

“The war in Iran has forced airlines to raise prices and cut flights. But soon, some of them, particularly in Europe, could struggle to find enough jet fuel to put planes in the sky,” the New York Times reports.

“Ryanair, the low-cost airline that dominates flying within Europe, said this week that its suppliers could guarantee it enough jet fuel only through most of May. The airline said fuel could be in short supply if ships laden with energy did not soon begin passing through the Strait of Hormuz, a vital waterway on Iran’s southern coast.”

A new Quinnipiac poll finds 38% of voters approve of the way Donald Trump is handling his job as president, while 55% disapprove.

Key takeaway: A stunning 65% say they blame Trump for higher gas prices, while 34% blame him not much (11%) or not at all (23%). 

“Just because it looks like we’re going in the wrong direction doesn’t mean that’s the direction we are going.”

— Energy Secretary Chris Wright, on Fox News.