The US is weighing lifting sanctions on some Iranian oil, as it scrambles to contain the impact of its war in Iran on energy markets, BBC reported. 

Treasury Secretary Scott Bessent put forward the idea in a Fox interview, saying it could make more oil available to global buyers. Around the world, energy prices are shooting up as the war takes a toll on shipping and production.

If put into action, the move would mark a stunning reversal of longstanding American policy - and one with highly uncertain pay-off, according to BBC.