Oil prices have surged following U.S. military action in Iran, with Washington's policy options nearly exhausted. According to BlockBeats, experts warn that unless the Strait of Hormuz is reopened swiftly, other measures by Washington will be insufficient.
Criticism has been directed at U.S. President Donald Trump's administration for its crisis management approach. Michael Alfaro, Chief Investment Officer at energy and industrial hedge fund Gallo Partners, noted that recent policy decisions reflect a hasty attempt to stabilize the oil market.
Alfaro cautioned that if there are no signs of the Strait of Hormuz reopening by Monday, commodity prices could experience another sharp increase.
However, some defend the White House's strategy. Dan Brouillette, who served as Energy Secretary during Trump's first term, told the Financial Times that the government has a longer-term perspective than financial markets. He stated, "High oil prices are temporary. Now is the time to remove this regime and eliminate its decades-long extortion of the strait."