Trump: the US has a plan to combat rising oil prices

US President Donald Trump claims he has a plan of action in response to the sharp spike in oil prices, which briefly approached $120 per barrel amid the conflict with Iran.

He made this statement in a telephone interview with the New York Post.

"I have a plan for everything, okay? I have a plan for everything. You're going to be very happy," he said.

The American leader did not reveal the details, however the newspaper suggests the use of strategic oil reserves.

According to the publication, the price of a barrel of Brent crude reached $119.50, which is 65% higher than the level recorded on February 27 at $72.48.