U.S. Interior Secretary reveals: The Trump administration is considering "all options" to control oil prices!

U.S. Secretary of the Interior Doug Burgum said Thursday that the Trump administration is weighing a series of options to address the surge in oil and gasoline prices during the Iran conflict.

“All options are under consideration,” he said in a Thursday interview, adding that the list includes actions that could have immediate impact as well as longer-term, more complex measures.

It is reported that President Trump held an emergency meeting with Burgum and other senior advisors on Tuesday to discuss a range of options, after which he announced plans to provide insurance guarantees and naval escort to ensure the safe passage of oil tankers and other ships through the Strait of Hormuz. Trump emphasized, “In any case, the United States will ensure the free flow of energy to the world.”

U.S. Treasury Secretary Scott Bessent also stated on Wednesday that oil market supplies remain sufficient during the U.S.-Israel military actions against Iran. The Trump administration will support oil tankers passing through the Persian Gulf and will announce more measures in the coming days.

Analysts suggest that other possibilities include activating the national emergency oil reserve and possibly coordinating with other countries to maximize effectiveness. However, government officials have so far not taken action to deploy the Strategic Petroleum Reserve.

Experts point out that the government could also consider other options, including waiving fuel blending requirements or even allowing the U.S. Treasury to trade oil futures. However, intervention by the world’s largest economy in oil market trading would be unprecedented. As one of the world’s largest oil producers and consumers, the U.S. holds a unique position. It is still unclear how such plans would lower crude oil and gasoline prices.

Meanwhile, Burgum said that details of the U.S. International Development Finance Corporation’s (DFC) plan to insure oil tankers are still being developed.

“The team is working hard,” he said, mentioning the involvement of Bessent and Energy Secretary Chris Wray.

“As a federal government, we have the opportunity to intervene and establish some order,” he added: “The U.S. can take on some risks to ensure our allies around the world have sufficient supplies, and only we can do this because we have enough financial resources and naval power to achieve this.”

Since the U.S. and Israel launched strikes against Iran, oil prices have risen about 18%, and efforts to lower prices come ahead of the midterm elections in November, which could depend on public concerns over living costs. Trump often boasted that gasoline prices fell during his presidency. However, now oil prices, threatened by the Iran conflict, have risen to their highest levels in nearly a year.

Despite Trump and his officials repeatedly promising to do “whatever it takes” to ensure supply and lower prices, Wall Street and industry experts seem unconvinced. As the conflict around Iran escalates and spills over beyond the Middle East, U.S. stocks have been highly volatile, with the three major indices closing lower on Thursday, with the Dow plunging nearly 800 points.

Wall Street analysts generally believe that Trump’s assurances are a good start, but the president needs to make more concrete commitments and follow through. To address the root problem, only a ceasefire can help. Seanergy Maritime and United Maritime CEOs Stamatis Tsantanis also said the shipping industry may need further support commitments from Trump.