The White House is considering using the Defense Production Act to expand U.S. oil-refining capacity as the Iran conflict drives fuel prices higher.

Intelligence summary

The White House is considering using the Defense Production Act to expand U.S. oil-refining capacity as the Iran conflict drives fuel prices higher. Officials are discussing federal support to expand or improve existing refineries rather than build new ones, which would take years and cost far more. U.S. refineries are already operating near full capacity at 98%. Source: Reuters