US seeks to curb soaring petrol prices

The Trump administration is easing sanctions on Venezuela and suspending a century-old shipping law to increase global oil supplies and combat soaring energy prices, which have climbed above $109 per barrel. The moves come as Middle East conflicts have damaged Gulf energy infrastructure and threatened oil production at a critical moment. By loosening restrictions on Venezuelan crude and allowing easier maritime transport, the administration aims to flood the market with supply to push prices down. However, strikes on energy facilities continue to disrupt production, complicating efforts to stabilize costs. The UN's maritime agency is simultaneously pushing for safe passage corridors for sailors caught in the conflict zone.