US Edition
Treasury Secretary Bessent Optimistic on Strait of Hormuz Reopening and Oil Supply
Treasury Secretary Scott Bessent said the U.S. administration is steadily addressing global oil shortages while anticipating a near-term reopening of the Strait of Hormuz.
- Treasury Secretary Bessent expressed optimism that freedom of navigation will be restored in the Strait of Hormuz through US or multinational escorts.
- Bessent stated that the global oil market is in a deficit of 10-12 million barrels per day, which is being addressed by releasing strategic reserves and unsanctioning Russian and Iranian oil.
- Diplomatic pushback could limit military options, and balancing regional security remains a critical challenge as the administration works to address global supply shortages and energy market volatility.
24 Articles
24 Articles
Bessent says ‘more and more’ ships moving through Strait of Hormuz, could ease oil price pressure
Rising ship traffic through the Strait of Hormuz is helping stabilize global oil supply, Treasury Secretary Scott Bessent said, easing pressure on prices as Iran tensions persist.
Bessent: U.S. will 'retake' Strait of Hormuz with escorts if needed
The U.S. eventually will “retake control” of the Strait of Hormuz and restore trade through the waterway, Treasury Secretary Scott Bessent said on Monday. “Over time, the U.S. is going to retake control of the straits, and there will be freedom of navigation, whether it is through U.S. escorts or a multinational escort,” he said on Fox News. The Strait of Hormuz has been mostly closed since Feb. 28 following U.S. and Israeli strikes on Iran. Ira…
Brent futures turn negative after US Treasury Secretary Bessent says global oil market well supplied, U.S. can retake control of straits through U.S. or multinational escorts
Brent futures turn negative after US Treasury Secretary Bessent says global oil market well supplied, U.S. can retake control of straits through U.S. or multinational escorts ...
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- 47% of the sources are Center, 46% of the sources lean Right
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