According to the sources, the US administration currently views $100 a barrel as the baseline for prices in the near term, while not ruling out more extreme scenarios that could push prices to $200.
Economic impact assessment
The sources added that this does not mean the White House expects oil prices to reach these levels, but officials are currently looking for ideas to prevent this, along with assessing the economic impact of rising energy prices.
These moves come at a time when average gasoline prices in the United States have risen to about $4 a gallon, amid escalating tensions in the Middle East that have almost completely disrupted shipping in the Strait of Hormuz.
Watch for inventory data
Regarding prices, oil prices deepened their losses during today's trading, as markets awaited the release of US inventory data, amid assessments of the possibility of ending the Iran war before the reopening of the Strait of Hormuz.
Brent crude futures for June delivery – the most active contract – fell 2.5%, or $2.65, to $101.32 a barrel.
Nymex crude oil futures for May delivery fell 2.55%, or $2.57, to $98.68 a barrel, after touching $103.31 earlier.
Estimates from the American Petroleum Institute showed that crude oil inventories in the United States rose by more than 10 million barrels during the week ending March 27.
Official data released today is expected to show an increase in crude oil inventories of around two million barrels.
