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The focus remains on the Strait of Hormuz and the volume of oil flowing through it, as the conflict with Iran continues to drive market volatility. Higher energy prices are fanning inflation fears among investors, and have many of them now guessing when the Fed may cut rates next.

However, the Trump administration is working to ease concerns, drawing on its toolbox of tactics to ensure gas prices don't climb too high.

This week, Treasury Secretary Scott Bessent says they are considering “un-sanctioning” Iranian oil, which could help relieve supply worries

Meanwhile, President Trump continues to pressure allies to help secure the Strait and help stabilize global markets Phil Flynn, a Senior Market Analyst and FOX Business Contributor, joins FOX Business Network's Gerri Willis to share his outlook for oil prices in the coming weeks and how much of an impact he thinks the white house's efforts will have on pump prices and Americans' wallets.

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