US Treasury Secretary Bessent says we know that Iran has not mined the Strait of Hormuz, notes a lower oil price regime over the medium-term after the conflict

US Treasury Secretary Bessent says we know that Iran has not mined the Strait of Hormuz, notes a lower oil price regime over the medium-term after the conflict.

The statement from US Treasury Secretary Bessent clarifies that Iran has not engaged in mining the Strait of Hormuz, which could reduce immediate concerns around supply disruptions in a critical oil transit route. Additionally, the mention of a lower oil price regime over the medium-term suggests that the market may start pricing in reduced geopolitical risk, potentially stabilizing energy prices following recent tensions.