Treasury Eyes Swift Action as Iran Conflict Pushes Oil Higher

Rising oil prices tied to the escalating conflict with Iran have prompted the Treasury Department to prepare measures aimed at easing pressure on U.S. energy costs, Reuters reported Thursday.

Reuters reported Treasury officials were expected to announce steps as early as Thursday designed to counter the surge in energy prices following U.S. and Israeli strikes on Iranian targets.

The price increases come as the Middle East conflict approaches the one-week mark after the joint U.S.-Israeli strikes triggered retaliatory actions from Iran.