US Treasury Secretary Bessent says US is not attacking Iran's energy infrastructure; we have allowed Iran oil to continue out of the Gulf, via Fox Business Interview; US may unsanction Iranian oil on the water in the coming days

• Says Strait of Hormuz is a temporary choke point.
• Iranian barrels are about 140mln.
• Will use Iran oil to keep prices down.
• US could do another SPR release to keep prices down. 
• US may do a unilateral SPR release. 
• Treasury is NOT intervening in the futures market.
• Treasury is intervening in markets by creating excess supply with oil that is on the water.
• Not going to do financial market oil intervention. 
• Know where Iran leaders bank accounts are.
• Starting to see defections in Iran.
• Will see if Kharg Islands eventually becomes a US asset. 
• In time, oil prices will be lower than before February 28th.

US

• Economy is strong, consumer is strong. US growth can be above 3% this year.
• Fed investigation is not Trump's decision, it is Pirro's. 
• Warsh meeting on Hill is going very well. 
• There will be a Warsh confirmation hearing. 
• What will be held up is the senate vote on Warsh. 
• It is out of historic norms if Powell stays on as governor. 

Japan

• US President Trump has an excellent relationship with Japanese PM.
• Japan Navy is one of the three great world navies, it has some of the best minesweeps.
• Would not expect Japan to join the bombing campaign on Iran.
• Would expect Japan to be interested in securing oil supplies from Gulf.
• Think Japan is going to supply the market with oil reserves.

China

• Postponed China trip to stay in US during Iran war; the delay was about logistics, not about the Hormuz.
• China was funding the leading sponsor of global terrorism in buying oil from Iran.
• When the US unsanctions Iran oil, it can go to places ex-China.

Cuba

• It will be a slow motion regime change in Cuba.