Bessent Downplays Oil Crisis After U.S. Letting Iranian Tankers Pass Hormuz
U.S. Treasury Secretary Scott Bessent says Iranian oil tankers are currently being allowed to pass through the Strait of Hormuz, a move aimed at stabilizing global energy supplies during the ongoing Iran conflict.
The comments come as oil markets remain volatile and global shipping traffic through the critical waterway has sharply declined following military escalation in the region.
According to Reuters and Bloomberg reporting, Bessent told CNBC that Iranian ships have already resumed transiting the strait and that U.S. officials have allowed the passage to help keep global fuel markets supplied.
The Strait of Hormuz carries roughly one-fifth of the world’s traded oil, making disruptions there one of the most sensitive triggers for inflation and gas prices worldwide.
At the same time, the Trump administration is working to assemble a coalition of countries to help secure the waterway and potentially escort commercial vessels.
The situation remains fluid as attacks on ships and regional tensions continue.
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