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CNBC Top News·2 min read

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

U.S. permits Iranian oil tankers to transit key shipping route.

The United States is permitting Iranian oil tankers to pass through the Strait of Hormuz, as confirmed by Treasury Secretary Scott Bessent. This decision aims to ensure global oil supply amid rising tensions and attacks on commercial ships by Iran, which continues to export millions of barrels of oil daily despite the risks involved.

Key Takeaways

1.
Iran exports approximately 1.5 million barrels of oil per day despite tensions.
2.
Oil prices have surged about 40% since the onset of the recent conflict.

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