US Signals Plan to Control Iran Oil Reserves

A senior US energy official said the administration of President Donald Trump intends to secure full control over Iran’s oil reserves as the conflict in the Middle East continues to disrupt global energy markets.

Jarrod Agen, executive director of the US Energy Dominance Council, said Washington ultimately aims to remove Iranian authorities from control of the country’s oil resources.

Speaking to Fox News, Agen said the United States would eventually eliminate concerns about disruptions in the Strait of Hormuz because control of Iranian oil would no longer rest with Tehran.

The comments came as global oil prices surged amid escalating tensions. The price of Brent crude climbed above $92 per barrel, rising between 8 percent and 11 percent and reaching its highest level since April 12, 2024.

The increase followed warnings from Saad Al-Kaabi that energy exporters in the Gulf may soon declare force majeure if the crisis continues. In an interview with Financial Times, Al-Kaabi said other countries could follow Qatar in taking such steps within days and warned that restoring normal energy deliveries could take weeks or even months, even if the war ends immediately.

The conflict has already inflicted economic damage across the Middle East. Shipping traffic in the Strait of Hormuz, a vital corridor for global oil and gas exports, has largely halted.

Qatar, one of the world’s largest exporters of liquefied natural gas, recently declared force majeure after a drone attack forced the shutdown of its largest production facility. Another attack also targeted one of Saudi Arabia’s major oil refineries, further heightening concerns about global energy supply.