U.S. Secretary of State Rubio stated that the Trump administration will announce a special plan on Tuesday to address rising oil prices, aimed at alleviating the turmoil in the energy market triggered by the U.S. military strikes on Iran.
On Monday, March 2, U.S. Secretary of State Rubio claimed to the media before attending a briefing on the situation in Iran at the U.S. Congress that the Trump administration has a plan to stabilize the oil market.
He stated that on Tuesday, U.S. Treasury Secretary Basant and Energy Secretary Chris Wright will officially announce the aforementioned plan, which will be rolled out in a &#34;phased&#34; manner. Rubio pointed out that the rise in oil prices was a risk factor that the government had anticipated. He said:
<blockquote>
&#34;We knew this would be a variable, and we discussed this plan again last night and this morning. Starting tomorrow, you will see us gradually roll out these phased measures to try to mitigate this impact.&#34;
</blockquote>
On Monday, U.S. crude oil futures prices rose more than 6% in a single day. Reports indicate that a senior official of the Iranian Revolutionary Guard claimed to have closed the Strait of Hormuz and warned of attacks on vessels attempting to pass through, causing market concerns about supply disruptions to surge.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/750cd918-19e2-4c4a-9acd-6b7406f30eec.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/750cd918-19e2-4c4a-9acd-6b7406f30eec.png"/> (Crude oil futures gapped up on Monday)
<h2>Strait of Hormuz in Crisis, Global Oil Transport Faces Severe Test</h2>
The announcement by the Iranian Revolutionary Guard about closing the strait has sharply escalated this tense situation. Rubio, when asked about countermeasures, spoke firmly, stating, &#34;We will destroy their navy.&#34;
The Strait of Hormuz is a critical chokepoint for global energy transport, with over 20% of the world's seaborne oil and gas passing through this channel from the Persian Gulf to international markets.
Iran's harassment of vessels passing through the strait has significantly obstructed global oil circulation, with several oil tankers either waiting outside the strait or being forced to take longer routes to reach their destinations.
For the energy market, whether the Strait of Hormuz can maintain passage is a core variable determining the short-term direction of oil prices. The strength and specificity of the plan announced by the government on Tuesday will be closely scrutinized by the market

U.S. Secretary of State Rubio stated that U.S. Treasury Secretary Basant and Energy Secretary Wright will announce a special plan to stabilize oil prices on Tuesday, rolling out measures in phases. This comes after the U.S. military strike on Iran, following which the Iranian Revolutionary Guard claimed to close the Strait of Hormuz, raising market concerns about supply disruptions. On Monday, U.S. crude oil futures surged over 6% in a single day

- U.S. Secretary of State Rubio announced that the Trump administration would unveil a special plan on Tuesday to address rising oil prices, stemming from military actions against Iran that impacted energy markets.  
- The plan, to be announced by Treasury Secretary Besant and Energy Secretary Chris Wright, will be implemented in phases to stabilize oil markets amid concerns over escalation in the Strait of Hormuz, a crucial transit route.  
- The Iranian Revolutionary Guard has claimed to close the Strait, exacerbating market anxiety over supply disruptions, thus all eyes will be on the government's response to gauge its effectiveness in mitigating potential impacts on oil prices.

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Beginning Tuesday, measures will be implemented "in phases," with the U.S. stating that there are plans to "mitigate rising oil prices."