US Vice President to Announce Oil Price Stabilization Measures within 48 Hours

International oil prices rose on the 18th (local time) as Israel bombed Iran's largest gas fields and Iran threatened retaliation against energy facilities in neighboring countries. Concerns over disruptions to the energy supply chain spread, leading to a steep climb in oil prices.

On the 18th, Brent crude oil futures for May delivery closed at $109.75 a barrel on the ICE Futures Europe exchange in London, up as much as 6.1% from the previous trading day. West Texas Intermediate (WTI) crude oil futures for April delivery were trading at $98.60 a barrel as of 11 a.m. on the New York Mercantile Exchange, up 2.48%.

In a speech in Michigan on the 18th, US Vice President JD Vance announced that measures would be revealed within 24-48 hours to curb international oil prices, which have soared due to instability in the Middle East. Given that rising oil prices impact overall inflation, attention is focused on whether this announcement will alleviate the burden on household economies.