War Causes Energy Crisis, Trump Looks for Options to Control Oil Price Surge

File. Donald Trump speaks at the 2011 CPAC forum in Washington, D.C. on February 10, 2011. (Wikimedia Commons)

JAKARTA - The White House admitted that US President Donald Trump was reviewing all available options to control soaring oil prices after the opening of the stock market.

White House spokeswoman Taylor Rogers claimed that Trump had thought about the options before the US-Israeli military offensive against Iran began on Saturday, February 28.

"President Trump and his entire energy team have had a strong plan to keep the energy market stable long before Operation Epic Fury began, and they will continue to review all credible options," he said in a statement, Monday, March 9 local time, quoted from Politico.

World oil prices jumped sharply and broke through the USD100 per barrel limit for the first time in four years on Monday, March 9. Even the Brent crude oil price hit the level of USD119.50.

Oil prices have been shaken since the US-Israeli war vs Iran. The shock occurred due to the potential release of crude oil reserves by the G7 countries to dampen the price spike due to the conflict in the Middle East affecting supplies from the Strait of Hormuz.

Analysts expect the rise in crude prices since the US-Israel attack on Iran more than a week ago and potentially continuing to threaten the world economy.