Oil prices climbed after President Trump announced a blockade of sanctioned Venezuelan oil tankers, though weak global fundamentals capped the market’s upside.

The Trump White House confirms efforts to restore the nation's emergency oil reserve following its depletion during the previous Biden administration.

In a recent social media posting, former Utah congressman and current Fox News contributor Jason Chaffetz also gave Trump credit for price declines. In a selfie shot posted on X with a gas pump price visible in the background, Chaffetz wrote, “Trump did this. Fillmore, Utah. Today $2.15 for a gallon of regular gasoline. Keep on and Fillmore.”