White House says it's not planning oil or gas export restrictions

The Trump administration will not impose restrictions on U.S. oil and gas exports, an official said Thursday, despite recent speculation about such measures as energy prices spike. Gasoline prices have risen nearly 90 cents per gallon since a recent conflict began, prompting the White House to pursue alternative approaches including releases from the Strategic Petroleum Reserve and sanctions waivers on Russian oil. The administration's decision to maintain export flows represents continuity with years of expanding U.S. shipments that have made the country a major global player. Treasury Secretary Scott Bessent signaled the next step could include waiving sanctions on Iranian oil.