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U.S. Is Allowing Iranian Oil Tankers Through Strait of Hormuz to Maintain Global Supply, Says Bessent
The US permits continued Iranian oil tanker passage to avoid supply disruptions as Iran exports 1.5 million barrels daily through the Strait of Hormuz, officials said.
- On March 16, US Treasury Secretary Scott Bessent said the United States is allowing Iranian oil tankers to transit the Strait of Hormuz to maintain global supply, adding, 'We want the world to be well supplied,' in a CNBC interview.
- Tanker traffic has fallen sharply after Iran attacked commercial vessels in the Persian Gulf, disrupting around 20 million barrels daily through the Strait of Hormuz and raising global price concerns.
- Iran currently exports around 1.5 million barrels per day and US officials expect tanker traffic through the Strait to increase before US and allied naval forces begin escorting commercial vessels.
- On price outlook, Bessent said prices could fall much lower than $80 per barrel once the war is over and dismissed speculation about intervention in oil futures markets.
24 Articles
24 Articles
Why is US allowing Iran to continue shipping oil through the Strait of Hormuz? Treasury Secretary explains
Scott Bessent, US Treasury Secretary, confirmed that Iranian oil tankers are permitted through the Strait of Hormuz. He noted a decrease in tanker movements but anticipates an increase as US naval forces prepare to escort merchant ships.
After losses since the beginning of the Iran war, the markets recovered slightly on Monday. Especially statements by the US Treasury Secretary to let Iranian oil tankers pass the Strait of Hormus, Patrick Dewayne reports.
U.S. Advances Efforts to Restore Traffic Through the Strait of Hormuz
The U.S. is making significant moves to reopen the Strait of Hormuz, allowing Iranian oil tankers to continue their journeys. This comes amidst heightened tensions affecting global oil markets and commercial shipping. The post U.S. Advances Efforts to Restore Traffic Through the Strait of Hormuz appeared first on News Addicts.
NEW: US Takes Major Step Toward Re-Opening Strait Of Hormuz
Treasury Secretary Scott Bessent says the U.S. is taking a key step toward re-opening the Strait of Hormuz by allowing Iranian oil tankers to keep moving through the choke point, even as Tehran’s attacks have slammed commercial shipping and jolted global energy markets. “The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent told CNBC’s Brian Sullivan during a Monday “Squawk Box” inte…
"Iranian oil tankers have already begun to leave the region and the United States is not interfering with their passage," Scott Bessant stressed.
Iranian oil tankers allowed through Strait of Hormuz, Bessent says
Treasury Secretary Scott Bessent said the United States is allowing Iranian oil tankers to move through the Strait of Hormuz as part of an effort to stabilize global supply and prices. “We are seeing more and more of the fuel ships start to go through. The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent said in an appearance on CNBC on Monday. “We’ve seen Indian ships go out no…
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