US May Use Iranian Oil To Cool Prices: Scott Bessent

U.S. Treasury Secretary Scott Bessent signalled a potential shift in strategy, saying Washington may temporarily lift sanctions on roughly 140 million barrels of Iranian oil currently at sea. The move, he suggested, could inject 10–14 days’ worth of supply into global markets to keep prices in check during the ongoing conflict. Bessent indicated that much of this oil was originally destined for China, and that the U.S. could effectively use these barrels to counter Iran’s economic leverage. Emphasising that the administration has “multiple levers” at its disposal, he framed the move as part of a broader effort to manage energy markets while sustaining pressure on Tehran.