The US Treasury Secretary says the oil market is not facing a shortage
The US Treasury Secretary announced that the global oil market is not currently facing a shortage, and the supply conditions are under control.
Scott Besant, in an interview with Fox News, stated that the United States will gradually regain control of the Strait of Hormuz, and freedom of navigation will be restored.
He added that this goal can be achieved through US military escorts or multinational collaborations to protect the ships.
Besant also emphasized, referring to the increased passage of tankers through the Strait of Hormuz, that the market is not facing a supply shortage at the moment.
These statements were made while the price of Brent crude rose to about $116 per barrel on Monday but later decreased to around $114.