Treasury Secretary Scott Bessent said that the United States will "retake control" of the Strait of Hormuz over time, to restore freedom of navigation through one of the world's most critical energy chokepoints.

Treasury Secretary Scott Bessent's direct promise regarding a narrow stretch of water just changed how traders think about the oil risk.

Treasury Secretary Scott Bessent indicated optimism about a reopening of the Strait of Hormuz for passage of cargo ships and said the administration is steadily moving to address the shortage of global oil supplies.

Treasury Secretary Scott Bessent joins ‘Fox & Friends’ to discuss the gradual reopening of the Strait of Hormuz and unveils a new fraud crackdown program to expose scams in healthcare and other industries.

WASHINGTON, March 30 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Monday that the global oil market is well supplied, with more boats traveling through the Strait of Hormuz. "Over time, the U.

There has been no evidence that any vessels benefiting from the initiative passed through the strait. Read more at straitstimes.com. Read more at straitstimes.com.

Earlier in the day, Trump linked the reopening of the strait to ongoing negotiations with Iran and warned of potential escalation if access is not restored

Treasury Secretary Scott Bessent said that the U.S. plans to eventually take control of the Strait of Hormuz—using American or multinational escorts—as traffic begins to trickle through the critical waterway.

His remarks come against a backdrop of heightened global concern over the strategic Strait of Hormuz, a critical chokepoint for nearly one-fifth of world oil flows

Bessent’s remarks were delivered amid increasing concern about spiking oil and gas prices during the Iran war — and the threat that energy supply shocks will endure even once conflict ends.