US Treasury Secretary Bessent, on Iranian oil, says, any supply will be helpful, via Fox News; oil market is in a deficit of 10-12mln barrels a day

The statements from Treasury Secretary Bessent about Iranian oil suggest a potential easing of supply constraints in a market already facing a significant deficit of 10-12 million barrels per day.

Newsquawk StaffPublished 30 Mar 2026, 12:53 UTCOn the live feed at 12:33 UTC — 4 more headlines followed before this page went public

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US Treasury Secretary Bessent, on Iranian oil, says, any supply will be helpful, via Fox News; oil market is in a deficit of 10-12mln barrels a day

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Unsanctioned Russian and Iranian oil is "on the water".
Seeing more supply as countries make deals with Iran.
Seeing more and more ships, go through the Strait of Hormuz.
Oil market is well supplied.
US will take control of the Strait over time. To retake the Strait, whether by the US or international escorts.

Context

If countries are indeed facilitating deals with Iran and increasing shipments through the Strait of Hormuz, it could alleviate upward pressure on oil prices. However, the US's intention to control the Strait raises geopolitical risks that could impact shipping and supply logistics in the region.

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