oil market is supplied, control of Hormuz should change over time

“Over time, the US will regain control of the Strait and there will be freedom of navigation, whether through US escorts or a multinational escort,” he said

WASHINGTON, March 30 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Monday that the global oil market is well supplied, with more boats traveling through the Strait of Hormuz.

“Over time, the U.S. will regain control of the Strait and there will be freedom of navigation, whether through U.S. escorts or a multinational escort,” Bessent said in an interview with Fox News.

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