Trump says U.S. ‘energy dominance’ eases risks, but Iran war could test it

The Trump administration has argued that record U.S. oil and gas production gives it more leeway to act in the Middle East, with less to fear from energy price shocks. The ongoing war in Iran, however, could put that premise to the test. This weekend’s strikes and Iran’s missile and drone responses have already disrupted energy flows: tanker traffic through the Strait of Hormuz slowed, Qatar halted liquefied natural gas production after attacks on two gas sites, and Saudi Arabia suspended operations at its largest refinery after a fire during a drone strike.

International oil prices climbed to about $84 a barrel, roughly 17 percent higher than last week but still below 2024 peaks. The United States’ rise to become the world’s largest crude and natural gas producer — driven by advances in fracking — has added supply and, officials say, more room to absorb shocks.

United States

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