US Treasury Secretary Scott Bessent announced in an interview with Fox News that the United States is opening up the Strait of Hormuz and emphasized that the US has 'absolute control' of the strategic waterway, according to Reuters [1]. Bessent stated, 'Iranians do not have control of the strait,' and clarified that US forces are 'firing only when fired upon' [1]. He called for international partners to increase pressure on Iran, suggesting that now would be a good time for such action [1].
Bessent addressed concerns about energy markets, expressing confidence that the market will be 'very well supplied' [1]. He acknowledged that gas prices are currently affecting Americans but expects prices to decrease quickly once the conflict ends [1].
In terms of market reaction, the US Dollar (USD) Index showed no immediate response to Bessent's comments and was last seen rising 0.12% on the day at 98.32 [1].
No forward-looking analyst opinions were provided in the source article.
CONCLUSION
US Treasury Secretary Bessent's remarks signal strong US control over the Strait of Hormuz and an expectation of stable energy supplies. While gas prices remain a concern, Bessent anticipates a quick decline once the conflict is resolved. The market reaction was muted, with the USD Index showing only a modest increase.