United States to unveils plan to manage oil prices amid strikes on Iran

 The United States has a plan to counter rising oil prices and protect global shipping lanes as it presses ahead with strikes aimed at crippling Iran’s missile arsenal and naval power, Secretary of State Marco Rubio said at the US Capitol.

Rubio said markets were reacting to events in the region but insisted Washington had anticipated the fallout.

“Yes, and we, we’ve, we knew that going in would be a factor,” he told reporters when asked about spiking oil prices. “There is a plan in place. We anticipated this



could be an issue.”

He said Energy Secretary Chris Wright and Treasury Secretary Scott Bessent would begin “rolling out those steps starting tomorrow to mitigate, to mitigate against the impact that could happen.”

Rubio warned that Iran’s naval capabilities posed a broader threat to global trade. “This terroristic regime led by radical clerics has the ability potentially to shut off 20 per cent of global energy. That’s the kind of leverage they have because of their navy. We’re gonna destroy their navy,” he said.