White House Preparing Plan to Stabilize Oil Markets: Rubio

Crude oil prices surged 8 percent following the joint U.S.-Israel strikes in Iran.

Published on Mar. 2, 2026

Got story updates? Submit your updates here. ›

The White House is preparing to unveil a strategy aimed at bringing down rising energy prices following the joint U.S.-Israel operations in Iran, said Secretary of State Marco Rubio. Rubio stated that Energy Secretary Chris Wright and Treasury Secretary Scott Bessent would announce efforts to mitigate increasing oil and gas prices.

Why it matters

The joint U.S.-Israel strikes in Iran have caused a significant spike in crude oil prices, which could have widespread economic impacts. The White House's plan to stabilize oil markets is an important response to address these rising energy costs.

The details

Crude oil prices surged 8 percent following the joint U.S.-Israel strikes in Iran. Rubio stated that the White House is preparing to unveil a strategy to bring down these rising energy prices, with Energy Secretary Chris Wright and Treasury Secretary Scott Bessent set to announce efforts to mitigate the increases in oil and gas prices.

  • The joint U.S.-Israel strikes in Iran occurred recently.

The players

Marco Rubio

The Secretary of State who announced the White House's plan to stabilize oil markets.

Chris Wright

The Energy Secretary who will announce efforts to mitigate increasing oil and gas prices.

Scott Bessent

The Treasury Secretary who will announce efforts to mitigate increasing oil and gas prices.

Got photos? Submit your photos here. ›

What they’re saying

“The White House is preparing to unveil a strategy aimed at bringing down rising energy prices following the joint U.S.-Israel operations in Iran.”

— Marco Rubio, Secretary of State

What’s next

The White House is expected to announce its plan to stabilize oil markets in the coming days.

The takeaway

The White House's plan to address rising energy prices following the joint U.S.-Israel strikes in Iran is a critical response to mitigate the significant economic impacts of the surge in crude oil prices.