UPDATE 1-US weighs oil futures market action to combat rising energy prices - WH official
UPDATE 1-US weighs oil futures market action to combat rising energy prices - WH official is drawing significant interest across the industry.
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.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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