Trump Eyes U.S. Oil Output Surge as Iran Blockade Crushes Supply; WTI Dips to $104.6

The White House is pursuing regulatory changes to accelerate U.S. oil production amid a collapse in Iranian exports from 2.1 million bpd to 567,000 bpd due to U.S. naval blockade. This tightened global supply, spiking Brent to $113.8/bbl and WTI to $104.6/bbl intraday while lifting U.S. gasoline to $4.30/gal. Adviser Hassett signaled boosts 'really soon,' already sparking pullbacks (WTI -2.48% to 104.23, Brent -0.75% to 109.61), with markets bracing for bearish policy impacts if enacted swiftly.