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Home›Commodities›Energy›Oil prices tumble after Bessent says Strait of Hormuz…

Oil prices tumble after Bessent says Strait of Hormuz deal could come

Reported · Written up by our desk · Energy

CNBC Markets reports oil prices fell after U.S. Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could arrive this week.

Bessent said such an agreement would support freedom of navigation through the strait, reducing concerns over energy supply disruption.

The move follows expectations that a potential resolution would ease market anxiety tied to the chokepoint.

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Sources

CNBC MarketsOil prices tumble after Bessent says Strait of Hormuz deal may come this week

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