U.S. President Donald Trump is considering a series of emergency measures to control the sharp rise in oil prices amid the risk of war with Iran disrupting global energy supplies. According to informed sources, the White House may begin to consider market intervention tools today, after crude oil prices surpassed $100 per barrel.
Global oil prices recently rose to around $119 per barrel – the highest since mid-2022 – following U.S. and Israeli attacks on Iran at the end of February, which disrupted Middle Eastern energy supplies and caused gasoline prices to surge.
One of the options being considered is coordinating with G7 countries to sell strategic oil reserves. Additionally, the U.S. government is also looking into restricting oil exports, intervening in futures markets, temporarily lifting some fuel taxes, and easing transportation regulations under the Jones Act.
However, experts say the impact of these measures could be limited if oil transit through the Strait of Hormuz – a route that accounts for about 20% of global oil supply – continues to be disrupted.
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