<\/p>
The White House moved to calm public concerns over rising fuel costs on March 8, describing the recent surge in oil prices as a temporary market reaction tied to tensions involving Iran.\u00a0<\/p>
Catch live coverage of West Asia conflict here<\/strong><\/em><\/p> Speaking on State of the Union on CNN<\/em>, United States Secretary of Energy Chris Wright said the spike reflects a \u201cfear premium in the marketplace\u201d rather than a long-term supply shock. He suggested the volatility is likely to be short-lived even in a worst-case scenario.\u00a0<\/p> \u201cWe never know exactly the timeframe of this,\u201d Wright said. \u201cBut in the worst case, this is weeks, this is not a months thing.\u201d\u00a0<\/p> Earlier in the day, Wright had downplayed concerns about the Strait of Hormuz closure amid the conflict in Iran.\u00a0<\/p> \u201cOne large tanker has already gone through the straits with no issues at all. So as the general just described, we\u2019re massively attiring their ability to strike with missiles and drones, and that rate of attrition will increase in the coming days,\u201d Wright said during an appearance on Fox News<\/em>.\u00a0<\/p> \u201cSo we\u2019ll be cautious. We\u2019ll be careful, but energy will flow soon,\u201d he added.<\/p> Administration officials say markets are reacting to uncertainty around the escalating confrontation with Tehran and potential disruptions to global energy flows. However, Wright stressed that current price movements are driven largely by risk perceptions rather than an immediate collapse in oil supply.\u00a0<\/p> Separately, Karoline Leavitt, the White House press secretary, echoed that message during an appearance on Fox News, describing the increase in fuel prices as a \u201cshort-term disruption.\u201d She argued that the situation could ultimately strengthen the US\u00a0energy sector.\u00a0<\/p> \u201cBut ultimately taking out the rogue Iranian regime is going to be a good thing for the oil industry,\u201d Leavitt said, adding that prices are expected to fall again as the administration\u2019s energy strategy expands domestic production.\u00a0<\/p> Leavitt credited Donald Trump\u2019s \u201cAmerican energy dominance\u201d agenda for keeping long-term supply outlooks strong, saying increased US\u00a0production should help stabilize prices after the current bout of geopolitical volatility.\u00a0<\/p> Energy markets have been closely watching developments in the Middle East, where tensions have raised concerns about potential disruptions to shipping routes and oil infrastructure, contributing to the current surge in crude prices.<\/p> <\/div> White House oil prices, Chris Wright fear premium oil, Karoline Leavitt oil comments, Trump energy dominance oil prices, Iran tensions oil market, US fuel prices surge, Middle East conflict oil markets\u00a0#West #Asia #crisis #White #House #oil #price #surge #driven #fear #premium #expects #relief #weeks1772988042<\/p> ","protected":false},"excerpt":{"rendered":" The White House moved to calm public concerns over rising fuel costs on March 8, describing the recent surge in oil prices as a temporary market reaction tied to tensions involving Iran.\u00a0 Catch live coverage of West Asia conflict here Speaking on State of the Union on CNN, United States Secretary of Energy Chris Wright […]<\/p>\n","protected":false},"author":1,"featured_media":4562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[5680,16442,2151,13362,16450,11907,16449,16445,16443,16447,988,1175,1782,4491,1761,16444,16446,16451,2182,16448,16441],"class_list":["post-4561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-asia","tag-chris-wright-fear-premium-oil","tag-crisis","tag-driven","tag-expects","tag-fear","tag-house","tag-iran-tensions-oil-market","tag-karoline-leavitt-oil-comments","tag-middle-east-conflict-oil-markets","tag-oil","tag-premium","tag-price","tag-relief","tag-surge","tag-trump-energy-dominance-oil-prices","tag-us-fuel-prices-surge","tag-weeks","tag-west","tag-white","tag-white-house-oil-prices"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/4561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4561"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/4561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/4562"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4561"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}