US Allows Some Iranian, Indian, and Chinese Ships Through Strait of Hormuz Amid Conflict

US Treasury Secretary Scott Bessent stated the United States is currently allowing some Iranian, Indian, and Chinese ships to pass through the Strait of Hormuz to maintain global oil supply amid ongoing conflict in the region. He noted increasing tanker traffic and expects this to continue before any naval escorts begin. Bessent indicated that measures to address rising oil prices depend on the conflict's duration and dismissed speculation about intervening in oil futures markets.