President Donald Trump met with oil and gas executives at the White House to discuss measures to sustain the U.S. blockade of the Strait of Hormuz amid rising gas prices and ongoing tensions with Iran. The meeting, confirmed by the White House, included Treasury Secretary Scott Bessent, Chief of Staff Susie Wiles, and Vice President J.D. Vance. Topics covered domestic production, Venezuela’s progress, oil futures, natural gas, and shipping. The White House stated executives affirmed Trump’s actions, including invoking wartime authority under the Defense Production Act to boost energy output.
Gas Prices Surge
Average U.S. gas prices reached $4.23 per gallon, the highest since Russia’s 2022 Ukraine invasion, marking a 44% increase since the Iran war began. Trump rejected Iran’s offer to lift the naval blockade without a nuclear agreement, canceling further talks in Pakistan. The blockade’s continuation aims to pressure Iran’s nuclear program.
Tropical Forest Loss
Separately, new data revealed tropical forest loss equivalent to a small European country last year, though details on the specific country were not provided.