Trump Administration Rules Out Treasury Oil Futures Trades

The administration of the United States is currently ruling out a plan to have the Treasury Department trade oil futures, according to reports from Bloomberg News. While officials previously considered the move to stabilize energy markets, they now believe the department's capacity to significantly influence global prices is restricted. This decision follows a period of heightened volatility in the energy sector as global oil prices spiked following the start of a conflict with Iran on Saturday, which has caused significant disruptions to supply chains across the Middle East.