UK Prime Minister Faces Pressure on North Sea Drilling Restrictions

The new Prime Minister of the United Kingdom, Andy Burnham, is under pressure from U.S. President Donald Trump to reconsider restrictions on oil drilling in the North Sea. Trump claimed that Burnham would open up drilling in the region, which has been a topic of contention since the Labour Party's commitment in 2024 to halt new drilling licenses as part of efforts to reach net-zero carbon emissions by 2050. However, Burnham has not made any public commitments regarding this issue. Reports suggest that he may announce new plans for oil and gas leasing, but allies have denied intentions to lift the ban on new licenses. Meanwhile, the ongoing conflict between the U.S. and Iran has escalated, resulting in increased tensions and rising gasoline prices, which have reached $4 per gallon. The U.S. has conducted attacks against Iran in response to the killing of U.S. troops, leading to concerns over energy supply and prices. Additionally, the House Energy and Commerce Committee is set to begin a markup on the Ratepayer Protection Act, which aims to address costs for large-load energy customers. The Strategic Petroleum Reserve has also seen a decrease in stockpiles, dropping to 311.4 million barrels, as part of ongoing efforts to manage energy resources.