Oil Market Impact - Oil prices fell for the first time in six days due to potential U.S. intervention in the futures market and waivers for Indian refiners to purchase Russian crude [1] - Brent crude futures decreased by $1.14 (1.33%) to $84.27 per barrel, while West Texas Intermediate dropped by $1.46 (1.8%) to $79.55 [1] - The U.S. government is considering measures to combat rising energy prices stemming from the military conflict with Iran, which has disrupted oil supply routes [1] Supply Chain Dynamics - The military conflict that began on February 28 has halted tanker movements through the Strait of Hormuz, affecting about 20% of the world's daily oil supply [1] - The U.S. Treasury Department is expected to announce measures to influence energy prices through financial markets, marking a shift from traditional physical supply interventions [1] - Waivers granted to Indian refiners have led to the purchase of millions of barrels of Russian crude, reversing previous pressures to cease such purchases [1] Price Trends and Market Analysis - Brent crude prices surged 18% and WTI gained 21% in the four trading sessions following the onset of the Iran conflict [1] - Analysts note that the recent price increases are relatively modest compared to past shocks, such as the spike above $100 per barrel following the Russian invasion of Ukraine in 2022 [1] - Current crude prices are only $3.40 above the average over the last four years, indicating that while there is concern, the situation is not unprecedented [1]

March 5 (Reuters) - The U.S. Treasury Department could announce measures as soon as Thursday to address rising energy prices, potentially including action in the oil futures market, a senior ‌White House official said. Global oil prices have jumped since the war with Iran started on ‌Saturday, as the spreading conflict disrupts Middle East supplies. [O/R] JOHN PAISIE, PRESIDENT OF STRATAS ADVISORS "It could dampen speculation with traders knowing that ​the U.S. government is taking the opposite side - ...