Bessent says more oil tankers passing through Strait of Hormuz

HUNT VALLEY, Md. (TNND) — Treasury Secretary Scott Bessent said Monday that oil tankers are traveling more frequently through the Strait of Hormuz, a critical Middle Eastern passage through which a fifth of the world’s petroleum moves.

He explained during an interview on CNBC’s “Squawk Box” that Iran is letting some of its economic partners, like India and China, import oil from Gulf countries. The strait has been shut down for ships from most states since the war between the U.S., Israel and Iran began last month.

“We are seeing more and more fuel ships start to go through,” Bessent said. “The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world. We’ve seen Indian ships go out now, so the Indians who rely very heavily on Gulf oil. We believe some Chinese ships have gone out.”

Iran warned weeks ago that it would attack any ship passing through the Strait of Hormuz. Oil production has slowed as a result, and countries around the world have experienced supply issues.

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