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Vance says cheap oil and gas remain top US priority in Iran war

Vance tied the goal to a US pledge to keep the naval blockade on Iranian oil exports indefinitely, even as gasoline stays above $4 per gallon this week.

Reported · Written up by our desk · Energy

Vice President JD Vance said on Fox News that keeping US oil and gas cheap is the top Administration priority amid the ongoing war in Iran, pointing to how oil prices have fallen from early conflict highs. He also said a second priority is preventing Iran from obtaining a nuclear weapon.

The comments came as the US and Iran signaled they were no closer to a peace deal than at the start of the war, OilPrice reported. The article also said the United States vowed to ratchet up economic pressure on Iran and could keep the naval blockade on Iranian oil exports indefinitely.

Oil prices were reportedly headed early Friday for a 4% weekly gain, according to the outlet. At the same time, the US national average price of gasoline remained above $4 per gallon this week, with AAA cited for noting that demand is down but crude prices are keeping pump prices higher than normal for this time of year.

Latest closeWTI crude $81.19 ▼2.5%|Gasoline (RBOB) $2.850 ▼9.6%

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