""Over time, the US is going to retake control of the straits, and there will be freedom of navigation - whether it is through US escorts or a multinational escort.""
""The global oil market is in deficit about 10 to 12 million barrels a day, and we're making up for that deficit.""
""The Houthis have been very quiet so far. I would expect them to likely remain that way.""
Treasury Secretary Scott Bessent expressed optimism about reopening the Strait of Hormuz for cargo ships. He noted a global oil market deficit of 10 to 12 million barrels daily, with the U.S. addressing this through strategic reserves. Bessent mentioned the Trump administration's decision to unsanction Russian and Iranian oil already in transit, asserting it did not provide additional funds to those regimes. He also commented on the Houthi group's quietness regarding potential disruptions in the Red Sea, suggesting they are likely to remain inactive.
Read at Fortune
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