---
title: "Justin Wolfers Warns 'Mess' In Middle East Will Continue Through The Midterms, Wonders If Republicans In Congress Will 'Step In' To Save Their Jobs"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286721396.md"
description: "Economist Justin Wolfers cautioned that ongoing Middle East tensions could pose political risks for Republicans ahead of the November midterm elections, as rising oil prices and Treasury yields pressure the U.S. economy. He questioned when Congress would intervene to protect their positions, noting that the conflict has led to significant oil supply losses and increased inflationary conditions."
datetime: "2026-05-18T05:05:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286721396.md)
  - [en](https://longbridge.com/en/news/286721396.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286721396.md)
---

# Justin Wolfers Warns 'Mess' In Middle East Will Continue Through The Midterms, Wonders If Republicans In Congress Will 'Step In' To Save Their Jobs

Economist **Justin Wolfers** argued that surging oil prices and bond market turmoil stemming from the ongoing conflict in the Middle East could result in a political risk ahead of the November midterm elections.

In Sunday’s post on X, Wolfer said, "As it becomes increasingly clear that the mess in the Middle East will continue through to the midterms, I can’t help but wonder when the Republican Congress will step in — to save their own jobs."

> As it becomes increasingly clear that the mess in the Middle East will continue through to the midterms, I can't help but wonder when the Republican Congress will step in — to save their own jobs. pic.twitter.com/GMRWaZXQpa
> 
> — Justin Wolfers (@JustinWolfers) May 17, 2026

## **Middle East Crisis**

The Middle East crisis seems far from ending soon. In the latest development, President **Donald Trump** warned Iran of the stalled peace negotiations, stating that the “clock is ticking” and urging swift action or severe consequences.

The conflict, which began in February alongside Israel, has seen Trump consistently pressuring Iran to halt its nuclear enrichment activities. Trump recently described the ceasefire with Israel as being on "life support" after its extension last month.

**Read Also: Pete Hegseth Mocked By Ghalibaf As US Pays Pre-GFC Rates: Iran Official Says 'Failed TV Host' Cosplaying As Secretary Of War In Hormuz**

## **Strait of Hormuz Closure Threatens**

The ongoing closure of the Strait of Hormuz, which carries about 20% of global oil and liquid natural gas (LNG) shipments, has pushed oil prices higher, leading to inflationary conditions.

According to the latest report from the International Energy Agency (IEA), the key oil point removed more than 14 million barrels per day of crude output from global supply. The agency said that "More than ten weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace." 

Crude oil (June 2026) futures are hovering near $108 per barrel, while Brent oil (July 2026) futures are trading near $111 per barrel at the time of writing. Economist **Peter Schiff** warned that the current oil prices may not return to pre-Iran war levels anytime soon amid escalating tensions between Washington and Tehran.

The chaos has also driven bond yields higher. The 30-year Treasury yields climbed above 5.00%, while the 10-year yields are hovering above 4.50% level. Higher yields have ignited fears that elevated borrowing costs could result in both economic and political shocks.

**_Disclaimer:_** _This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor._

**Read Also: Elizabeth Warren Calls Out 'Massive, Unprecedented Scandal,' Alleges Trump Is Using Treasury As 'Personal Piggy Bank' Via IRS Lawsuit Settlement**

_Photo Courtesy: gguy on Shutterstock.com_

### Related Stocks

- [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md)

## Related News & Research

- [IRAN DELIBERATELY TARGETED CIVILIANS IN THE MIDDLE EAST THOUSANDS OF TIMES, U.S. ADMIRAL SAYS](https://longbridge.com/en/news/286938415.md)
- [IRAN DEPUTY FM SAYS SURRENDER NOT AN OPTION FOR IRAN](https://longbridge.com/en/news/286929564.md)
- [Trump: I had made the decision to attack Iran today](https://longbridge.com/en/news/286935735.md)
- [Axios says Trump is waiting for a response from Iran](https://longbridge.com/en/news/286682237.md)
- [TRUMP: WE MAY HAVE TO GIVE IRAN ANOTHER HIT, NOT SURE](https://longbridge.com/en/news/286934925.md)