Sources familiar with the matter and close to the White House say that as the Iran war enters its second month, senior White House staff and government officials are discussing the possibility of oil prices soaring to $150 a barrel or even higher. Two industry officials with ties to the White House said White House officials are assessing the economic impact of high oil prices and considering measures, including invoking additional emergency powers, to reduce costs. Trump has also been briefed by the Treasury Department on the near-term outlook for energy prices. The Treasury Department currently believes that oil prices are likely to remain above $100 a barrel for some time. Sources say the government considers this figure a "benchmark" and does not rule out the possibility of prices rising to $200 a barrel. Another official revealed that the government is exploring all possible avenues to alleviate oil price pressures, including exercising emergency powers and addressing supply chain disruptions in the Strait of Hormuz on defense grounds. (Jinshi)