Commentary: The White House's oil-restraint toolbox is empty

My working assumption is that the oil market will add US$3 to US$6 a barrel to the headline price for every day - every single day - that the war continues. It’s bearable for another week, perhaps two, but any longer and the world will start to incur serious economic damage through soaring energy costs. Short of a very risky - and possibly illegal - intervention in the oil futures market, the White House doesn’t have more meaningful tools to wield to bring energy prices down.