Vance Says Cheap Oil and Gas Is Top U.S. Priority in Iran War
Middle East Oil Tankers Are Going Dark for Longer What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Low U.S.
gasoline prices are the top priority of the Administration amid the war in Iran, Vice President JD Vancesaid, as the U.S.-Iran deadlock persists and the U.S.
vowed to keep the blockade on Iran indefinitely.
“I know that oil is down today and it's way down from the highs in the early days of the conflict,” Vance said on Fox News late on Thursday.
“That's goal number one -- keep oil and gas cheap for Americans all over our country,” said the vice president as Americans are paying the highest gasoline prices this late in any year.
“And then obviously goal number two is ensure that Iran never gets a nuclear weapon,” Vance added, in an apparent contradiction to the U.S.
top goal stated early in the war that Tehran must never obtain a nuclear weapon.
Vance’s words came hours ahead of the U.S.
vowing to ratchet up economic pressure on Iran and saying it couldkeep the naval blockadeof Iranian oil exports “indefinitely”.
Oil prices were headed early on Friday for a4% weekly gainas the United States and Iran indicated they are no closer to a peace deal than they were at the start of the war.
national average price of gasoline remainedabove $4 per gallonthis week.
“While gasoline demand is down, crude oil prices are keeping pump prices higher than normal for this time of year,” AAAsaidon Thursday.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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