Trump administration officials aren’t prioritizing having the Treasury Department trade oil futures as the White House weighs a long list of options to relieve pressure on global energy prices, according to a person familiar with the matter.

A momentum indicator for a crude futures chart has soared to its highest level in 36 years, but as the Wall Street saying goes, overbought doesn’t mean over.

Oil fell for the first time in six days as the U.S. government mooted interventions in the futures market and waived Indian purchases of Russian crude.

Crude oil futures traded higher on Thursday morning after a US submarine sank an Iranian warship off the coast of Sri Lanka.

WTI crude oil edges higher on Middle East supply risks as traders eye EIA inventory data and key resistance in crude oil futures analysis.

By Jarrett Renshaw March 5 (Reuters) - The U.S. Treasury Department is expected to announce measures as soon as Thursday aimed at combating rising energy prices in the wake of the Iran conflict, including potential action involving the oil futures market,