The United States may ease restrictions on Iranian oil to stabilize global energy supply following a joint US-Israel attack on Iran. The attack, which targeted Iran’s gas fields and disrupted shipping through the Strait of Hormuz, has significantly affected global oil prices. US Treasury Secretary Scott Basent told Fox Business that the move aims to restore balance in the energy market, according to Al Jazeera.

Basent also said the US could unilaterally release oil from its own reserves to support market stability. Earlier this week, he noted that Iranian oil tankers had already begun leaving the Strait of Hormuz with US awareness, helping to normalize global supply. Further details on Basent’s comments are expected soon.

The developments come amid heightened tensions in the Middle East and concerns that oil prices could rise sharply if disruptions continue.