US Treasury Secretary Bessent says oil market is well supplied; US doesn't believe chokepoint exists in Strait of Hormuz; starting to see more movement in and out of the gulf
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US Treasury Bessent says USD has reasserted itself as save haven; dollar appreciated, capital is flowing in
US Treasury Secretary Bessent says oil market is well supplied; US doesn't believe chokepoint exists in Strait of Hormuz; starting to see more movement in and out of the gulf
US Treasury Secretary Bessent says we will overcome what Iran thinks is a chokepoint; energy prices and inflation will be lower with absolute security
US sells 4-week bills at a high rate of 3.620%, B/C 3.03x; US sells 8-week bills at a high rate of 3.630%, B/C 3.14x
On the Newsquawk feed at , 20 minutes before this page.
- Confident shipping traffic will continue to increase even before we secure the Strait.
Context
Bessent's remarks about the oil market being well-supplied and the absence of significant chokepoints in the Strait of Hormuz suggest a stable outlook for oil supply in the near term. This could alleviate concerns over potential disruptions, supporting risk appetite in energy markets and contributing to a more positive sentiment for WTI prices.
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