A key concern for markets would center around the potential impact of the developments in the Middle East on oil prices and thus on inflation.

Trump signaled Monday that he’s wary of rising oil prices that spiked Sunday after the U.S. military attacked nuclear sites in Iran. Prices had dropped again Monday. And with Americans heading into the busy Fourth of July driving season, the president sought to publicly address concerns that soaring gasoline prices might follow.

It was not immediately clear what the energy department could do to boost oil and gas drilling, which hit record highs during the previous administration of former President Joe B