Report: Besen claims the US allows Iranian oil tankers to pass through the Strait of Hormuz

MaticHoleFiller · 2026-03-16T17:00:43+00:00

US Treasury Secretary Scott Bessent stated that the United States allows Iran to transport oil through the Strait of Hormuz to support global supply. Currently, due to the war, the oil market is turbulent, with oil prices rising approximately 40%, and Brent crude maintaining above $100 per barrel. He mentioned that the government's response measures will depend on how long the war continues.

MaticHoleFiller

2026-03-16 17:00:43

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U.S. Treasury Secretary Janet Yellen

U.S. Treasury Secretary Janet Yellen told CNBC on Monday that the United States is allowing Iran to continue transporting oil through the Strait of Hormuz.

Yellen stated in the report, “Iranian ships are already shipping out, and we are permitting this to supply other parts of the world.”

The Iran conflict is causing unprecedented turmoil in the oil market. As a key transit route for about one-fifth of the world’s oil supply, this vital waterway’s transportation is currently nearly at a standstill. The global benchmark Brent crude has remained above $100 per barrel for the third consecutive trading day. Since the conflict erupted, oil prices have risen by approximately 40%.

CNBC reported that when asked whether the government would take measures other than releasing emergency oil reserves to ease the rise in oil prices, Yellen said it would depend on how long the war lasts.

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