President Trump presides over a cabinet meeting [UPI=Yonhap News] 

U.S. President Donald Trump recently met privately with oil industry executives to discuss the impact of the Iran conflict on energy markets and countermeasures, according to U.S. online media Axios and AFP on the 29th (local time).

President Trump met with representatives from the oil and gas industry at the White House the previous day, along with Treasury Secretary Steven Mnuchin, White House Chief of Staff Susie Wiles, Middle East Envoy Steve Lutes, and President Trump's son-in-law Jared Kushner.

Attendees from the industry included Mike Wirth, CEO of Chevron.

The meeting broadly discussed the current state of domestic energy production and shipping, trends in the crude oil futures market, and the situation in Venezuela.

The Trump administration reportedly shared information that the maritime blockade against Iran could continue for several more months.

An official told AFP that "President Trump discussed the measures taken to stabilize the global oil market and what we can do, if necessary, to continue the current blockade for several months while minimizing the impact on American consumers."

Following the start of the Iran conflict, Iran blocked the Strait of Hormuz, a global energy transport route. In response, the United States has imposed a maritime blockade against Iran, preventing Iranian-related vessels from entering or exiting the strait and surrounding waters.

The Trump administration appears to be considering extending the maritime blockade for several more months if necessary, in order to extract concessions from Iran, such as abandoning its nuclear program.

The Wall Street Journal (WSJ) reported the previous day that President Trump had instructed his staff to prepare for a long-term maritime blockade of Iran.

This is interpreted as a strategy to maximize economic pressure and elicit concessions from Iran, rather than immediately resuming military action.

Recently, the blockade of the Strait of Hormuz, a global energy transport route, due to the Iran conflict has caused the average U.S. gasoline price to rise from below $3 per gallon to the current $4.18.

As global energy market supply concerns grow, domestic energy prices in the U.S., linked to international oil prices, are also rising, which in turn is increasing the political burden on President Trump.

The Trump administration also recently extended the waiver of the Jones Act, which grants exclusive rights to U.S. vessels for transportation between U.S. ports, by 90 days.

This measure temporarily allows foreign vessels to transport goods between U.S. ports to alleviate energy supply bottlenecks and reduce upward pressure on oil prices.

A White House official told Axios that "President Trump frequently meets with energy industry executives to hear their opinions on domestic and international energy markets."

While a state of ceasefire with Iran continues, the impasse appears to be prolonged as differences remain over key issues such as the Strait of Hormuz and Iran's nuclear program.

Amidst such uncertainty, some analyses suggest that the blockade of the Strait of Hormuz, through which more than 20% of global crude oil is transported, could benefit U.S. crude oil and liquefied natural gas (LNG) exports.

However, concerns are being raised that the continued rise in international oil prices is increasing the burden on U.S. consumers and businesses.