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55ENERGY

US Treasury Secretary Bessent says Strait of Hormuz could become 'worthless' in two years

⚡ Markets: If realized, this would fundamentally reduce Iran's geopolitical leverage and lower the risk premium on oil from Mideast disruptions. Bearish for long-term oil prices.BrentWTI

US Treasury Secretary Scott Bessent stated that Gulf oil producers are accelerating pipeline construction that could allow them to bypass the Strait of Hormuz within two years. The statement comes as the US announced it would likely impose new sanctions on Iranian banks this week.

West MSM: noneFinancial press 1Non-West State 1Non-West Ind. 1Google Non-West 25 countries
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