Treasury Breaks Down Iran Oil Strategy as Gas Prices Loom

Clear Facts:

• Treasury Secretary Scott Bessent rejected claims that lifting sanctions on Iranian tankers rewards America’s enemies.
• President Donald Trump issued a 48-hour ultimatum to restore free passage through the Strait of Hormuz.
• Roughly one-fifth of the world’s crude oil flows through the Strait, where traffic has been restricted since March.

Treasury Secretary Scott Bessent challenged NBC host Kristen Welker on Sunday about the administration’s strategy to stabilize global energy markets.

Bessent argued that releasing Iranian oil tankers into the market prevents a massive price spike that would benefit adversaries more than current levels.

“That Iranian oil was always going to be sold to the Chinese. It was going to be sold at a discount.”

“So, which is better, Kristen? Which is better if oil prices spiked to $150, and they were getting 70% of that, or oil prices below $100? It’s better to have them where they are now.”

Bessent said the administration is ensuring the market remains well-supplied despite the ongoing regional conflict.

He noted that the strategic release of 140 million barrels provides between 10 days and two weeks of necessary supply to offset deficits.

The Treasury Secretary dismissed concerns regarding Russian oil, saying China already purchases over 90% of Russia’s exports.

He emphasized that keeping oil prices below $100 per barrel is more effective at limiting foreign revenue than allowing prices to skyrocket.

“I don’t know who does your research, you should get rid of them because they were getting it. It was going into China. China was buying over 90% of the Russian oil.”

While Bessent handled the economic front, President Trump threatened military action against Iranian infrastructure.

The President warned the United States is prepared to obliterate Iranian power plants if free passage through the Strait of Hormuz is not restored within 48 hours.

“If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!”