The war with Iran has revived debate in Washington over whether the United States should restrict crude oil exports to control rising fuel prices. According to a report by Axios, officials in the administration of Donald Trump have examined possible steps to bring down oil costs as global markets tighten.
The report said the idea of reinstating an export ban was discussed inside the White House earlier this week but is not currently a leading policy option.
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Energy Secretary Chris Wright told CNN that oil operates within global markets and there has been no serious discussion about halting exports.
The debate comes as the Strait of Hormuz remains largely disrupted, affecting roughly 20 percent of global oil supply.
Analysts say restricting exports would likely have only a temporary effect on U.S. prices because oil markets remain tightly linked worldwide.
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