00:00The Trump administration has ruled out using the U.S. Treasury Department to trade oil futures for now, according to
00:07a report by Bloomberg.
00:09Officials had considered intervening directly in oil markets, but believed Treasury intervention would have limited impact on prices.
00:20The report follows earlier signals that Washington was considering steps to ease rising energy prices after the Iran conflict sent
00:28oil markets surging.
00:30U.S. President Donald Trump said his administration would take action to reduce pressure on oil,
00:36adding that the government had already offered political risk insurance for tankers entering the Gulf.
00:42In an interview with Reuters, Trump said he was not worried about higher U.S. gas prices,
00:48stressing that the military campaign against Iran remains his priority.
00:52Global oil prices have surged since the war began, with Brent crude trading around $85 a barrel on Friday
00:59on track for its biggest weekly jump since early 2022.
01:03The U.S. President Donald Trump said his administration would take action to the U.S.
Comments