Secretary of State Marco Rubio addressed growing concerns over escalating energy prices due to the U.S.-Iran war and hinted at a plan in place.
Rubio, in a press briefing on Monday, indicated that the Trump administration had already anticipated a surge in oil prices due to the strikes and has a plan to alleviate the impact. He added that the plan’s rollout is set to begin on Tuesday and would be implemented by Energy Secretary Chris Wright and Treasury Secretary Scott Bessent.
The announcement comes at a time when crude oil futures have surged to their highest levels since early 2025. When last checked, the WTI Crude April 26 futures were trading 3.47% higher at $73.73 per barrel. On Monday evening, Iranian state media said that Tehran had closed the Strait of Hormuz and issued warnings that any vessel attempting to pass would be attacked or set on fire.
Goldman Sachs analysts estimate that an $18-per-barrel risk premium, about …
Full story available on Benzinga.com
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Secretary of State Marco Rubio addressed growing concerns over escalating energy prices due to the U.S.-Iran war and hinted at a plan in place.
Rubio, in a press briefing on Monday, indicated that the Trump administration had already anticipated a surge in oil prices due to the strikes and has a plan to alleviate the impact. He added that the plan’s rollout is set to begin on Tuesday and would be implemented by Energy Secretary Chris Wright and Treasury Secretary Scott Bessent.
The announcement comes at a time when crude oil futures have surged to their highest levels since early 2025. When last checked, the WTI Crude April 26 futures were trading 3.47% higher at $73.73 per barrel. On Monday evening, Iranian state media said that Tehran had closed the Strait of Hormuz and issued warnings that any vessel attempting to pass would be attacked or set on fire.
Goldman Sachs analysts estimate that an $18-per-barrel risk premium, about …
Full story available on Benzinga.com
