Trump Team Weighed Range of Options for Oil Supply Disruptions

Oil Could Hit $60 by End of Year: Goldman's Oppenheimer

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June 24, 2025 at 2:20 PM UTC

Trump administration officials considered a range of options in case of a major oil supply disruption in the Middle East ahead of the US strikes on Iran and President Donald Trump’s ceasefire declaration, according to people familiar with the matter.

The odds of needing to employ those strategies diminished Monday evening after Trump announced that Israel and Iran had agreed to a tentative truce.