U.S. is allowing Iranian oil tankers through Strait of Hormuz, says Bessent (www.cnbc.com)

submitted 1 day ago by MicroWave@lemmy.world to c/politics@lemmy.world

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The United States is allowing Iranian oil tankers to transit the Strait of Hormuz, Treasury Secretary Scott Bessent told CNBC on Monday.

Tanker traffic through the strait has plunged as Iran attacks commercial ships in the Persian Gulf. But the Islamic Republic has continued to export millions of barrels of oil through the narrow sea route despite the large U.S. Navy presence in the region. Iran exports about 1.5 million barrels per day.

The strait, which connects the gulf to the global market, is the most important trade route for oil in the world. About 20% of global oil supplies passed through the narrow waterway before the war.

Oil prices have surged about 40% since the U.S. and Israel attacked Iran two weeks ago. The war has triggered the largest oil supply disruption in history as exports through the strait have collapsed, according to the International Energy Agency. Global oil supplies are expected to plunge by 8 million barrels per day this month, according to the IEA.

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[-] RestrictedAccount@lemmy.world 5 points 9 hours ago

Not a defense but an explanation

The oil on those tankers belongs to someone. The US would have to steal Indian, Chinese, or someone else’s oil if they seized those tankers. This would cause even more chaos.
The price of the little remaining unsold oil outside of the Persian Gulf (the spot price for oil) would skyrocket.

[-] ButtermilkBiscuit@feddit.nl 2 points 13 hours ago

You can't break up with me, I break up with you first!!!!!

There are no adults in the room. They're playing tictactoe with WWIII

[-] Professorozone@lemmy.world 22 points 1 day ago

So we attack Iran and then allow only THEM to export oil in the region? I mean WTF? And then the administration acts like this is part of the plan. AND... they think people are OK with this? I'm just...I can't even think right now.

[-] nova_ad_vitum@lemmy.ca 7 points 20 hours ago

Presumably the US would allow any other tankers to pass. They don't want to block other countries. The remarkable thing is that they're allowing Iranian tankers to pass, and the reason is that blocking them is basically an act of was against China.

[-] scibra122@piefed.social 4 points 18 hours ago

Also the straits being useful for Iran is what is keeping them from mining it or at least keeping them from mining it in a substantial manner to make it impassible

[-] Professorozone@lemmy.world 2 points 17 hours ago

Irony, it'll fuck you every time.

[-] metermatic26@lemmy.world 25 points 1 day ago

Does anyone seriously believe a word coming out of the White House anymore?

[-] Akh@lemmy.world 30 points 1 day ago

What an odd article since Iran controls the strait. It is like saying, Peru is allowing Iranian ships through.

[-] KairuByte@lemmy.dbzer0.com 10 points 22 hours ago

America can’t allow other ships through, but they could absolutely stop Iranian ships from passing.

[-] Insekticus@aussie.zone 13 points 23 hours ago

Mainstream media is trying their best to not piss off Kegsbreath and make it look like the U.S. hasn't completely fumbled their ~~distraction from the Epstein files~~ war in Iran.

this post was submitted on 16 Mar 2026

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