US weighs oil futures market action to combat rising energy prices – WH official

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump replaces Homeland Security chief Kristi Noem Oil extends weekly gains as Iran conflict rages on, with crude surging around 20% Gold prices dip as stronger dollar weighs; Iran conflict remains in focus Dollar resumes climb on safe haven demand as Iran conflict rages on (South Africa Philippines Nigeria) US weighs oil futures market action to combat rising energy prices – WH official By Commodities Published 03/05/2026, 03:49 PM Updated 03/05/2026, 03:54 PM US weighs oil futures market action to combat rising energy prices – WH official 0 BNQA 4.19% LCOmmc1 100.00% LCOmdc1 0.00% By Jarrett Renshaw March 5 - The U.S. Treasury Department is expected to announce measures as soon as Thursday aimed at combating rising energy prices, including potential action involving the oil futures market, a senior White House official said. The potential move would mark an unusual attempt by Washington to influence energy prices through financial markets, rather than physical oil supplies, as officials race to blunt the political and economic impact of rising fuel costs. Brent crude has jumped to roughly $85 a barrel amid fears the conflict could disrupt flows through the Strait of Hormuz, a route that carries about a fifth of global oil shipments, while U.S. gasoline prices have climbed above $3 per gallon. A Treasury spokesperson could not be immediately reached for comment.