Bessent talks oil, accuses media of ‘trying to make it into some crisis that it’s not’

Iran's top diplomat announces that the Strait of Hormuz will only be blocked for vessels belonging to the United States, Israel, and their allies. This selective blockade of the critical oil shipping route could impact global energy markets and supply chains.

• →Iran threatens to block Strait of Hormuz access specifically for US, Israeli, and allied vessels.
• →The Strait of Hormuz is a critical chokepoint for global oil shipments and energy markets.
• →Selective blockade approach suggests Iran is targeting specific nations rather than implementing total closure.
• →Geopolitical tensions in the region could lead to oil price volatility and supply disruptions.
• →Treasury Secretary nominee Bessent downplays the situation, suggesting media is overreacting to the crisis.