US EditionU.S. Is Allowing Iranian Oil Tankers Through Strait of Hormuz to Maintain Global Supply, Says Bessent
The US permits Iranian tankers to transit the Strait of Hormuz, which handles about 20 million barrels daily, to stabilize global energy amid regional conflict.
- On March 16, U.S. 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 as Iran attacks commercial vessels, with the Strait of Hormuz—moving nearly 20 million barrels daily—effectively closed to regular shipping, pushing Brent crude above $100 Monday.
- Data indicate Iran has exported at least 12 million barrels since February 28, with TankerTrackers estimating 13.7 million barrels and satellite images showing two tankers loading 2.7 million barrels at Kharg Island.
- The administration expects tanker traffic to rise before U.S. Navy and allied forces begin escorting ships, and Bessent said he does not know when the conflict will end.
- In the longer run, analysts note that Iran needs the Strait of Hormuz and has limited overland export capacity, the administration's Russian crude 30-day waiver aids Asia, and Bessent expects prices 'much lower' than $80 post-war.
44 Articles
44 Articles
US Allowing Iranian Ships Through Strait of Hormuz, Treasury Secretary Says
U.S. Treasury Secretary Scott Bessent said on March 16 that the United States is allowing Iran to transport oil through the disputed Strait of Hormuz to ensure the rest of the world is supplied. “The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent told CNBC, in response to a question about Iranian oil tankers traversing through the strait. Since the U.S.–Israeli war with Iran began…
US Allowing Iranian Ships Through Strait of Hormuz, Treasury Secretary Says - The Thinking Conservative News
US Allowing Iranian Ships Through Strait of Hormuz, Treasury Secretary Says U.S. Treasury Secretary Scott Bessent said on March 16 that the United States is allowing Iran to transport oil through the disputed Strait of Hormuz to ensure the rest of the world is supplied. “The Iranian ships have been getting out already, and we’ve […] The post US Allowing Iranian Ships Through Strait of Hormuz, Treasury Secretary Says appeared first on The Thinkin…
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.
Bessent says some ships are getting through the Strait of Hormuz
At least some ships are making it through the Strait of Hormuz, a key oil shipping lane near Iran, Treasury Secretary Scott Bessent said Monday. “We are seeing more and more…ships start to go through,” Bessent told CNBC. “The Iranian ships have been getting out already, and we let that happen to supply the rest of…
To ensure the stability of the world ' s energy supply.
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