U.S. is allowing Iranian oil tankers through Strait of Hormu

Energy

U.S. is allowing Iranian oil tankers through Strait of Hormuz, says Bessent

Key Points
  • Treasury Secretary Scott Bessent told CNBC that the U.S. is allowing Iranian oil tankers to transit the Strait of Hormuz.
  • “We’ve let that happen to supply the rest of the world,” Bessent said.
  • Tanker traffic through the strait has plunged as the Islamic Republic attacks commercial ships in the Persian Gulf.
  • Oil prices have surged in response since the start of the war.
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