Treasury Secretary Bessent says Washington is allowing Iranian vessels to exit the Gulf to keep global energy markets supplied.
The United States is permitting Iranian oil tankers to pass through the Strait of Hormuz, US Treasury Secretary Scott Bessent confirmed in an interview with CNBC on 16 March 2026. Iran exports approximately 1.5 million barrels of oil per day and has continued to move shipments through the strait despite a significant US Navy presence in the region.
Bessent said the Trump administration expects tanker traffic through the strait to rise naturally before US Navy and allied forces begin formally escorting commercial vessels. He confirmed that tankers supplying India have already passed through, and noted that some Chinese ships are also exiting the Gulf. He added that crude oil prices are expected to fall well below $80 per barrel once the conflict ends.
Source: Investing.com / CNBC
