The United States will take concrete steps on Tuesday to address rising energy prices for Americans. This is what US Secretary of State Marco Rubio said, according to Reuters news agency.
Energy prices have risen after oil prices soared due to the war in Iran. US Treasury Secretary Scott Bessent and Energy Secretary Chris Wright will present the plans on Tuesday, Rubio said.
- Starting tomorrow (Tuesday, ed.) you will see us roll out these measures to try to counteract that. We had anticipated that this could be a problem, according to Reuters from the US Secretary of State.
US President Donald Trump has a scheduled meeting with Bessent and Wright at 8 p.m. Danish time on Tuesday, according to his schedule published by the White House.
Attacks on Iran affect energy prices
Oil and gas prices rose sharply on Monday after US and Israeli attacks on Iran and Iranian retaliatory attacks across the Middle East. Oil and gas plants have been forced to close in the region, and the conflict in the Middle East has disrupted shipping in the Strait of Hormuz, writes Reuters.
The Middle East is the region in the world that has the largest production of oil. Therefore, the region's conflicts typically affect oil production or make shipping difficult.
When shipping is made difficult, it is particularly the Strait of Hormuz, which, with its location between the Persian Gulf and the Gulf of Oman, is one of the busiest straits in the world. The location makes the strait an important trade hub. Around 20 percent of the world's oil passes through the Strait of Hormuz, writes the news agency AFP.
The Strait of Hormuz is not officially closed, but several ships have rerouted as a result of the attacks. This could mean that the oil has to be transported by another route, which takes longer and therefore costs more.
/ritzau/
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