Overview
- Treasury Secretary Scott Bessent said the administration may in coming days allow roughly 140 million barrels of Iranian crude already on the water to enter the market, describing it as about 10 days to two weeks of supply.
- The prospective step follows a recent waiver that freed about 130 million barrels of sanctioned Russian oil at sea, with Bessent saying together they would amount to a sizable, targeted injection of physical barrels.
- Bessent said further Strategic Petroleum Reserve actions remain an option on top of last week’s 400 million‑barrel IEA‑coordinated release, though the Energy Department said there are currently no plans for an additional U.S. SPR release.
- The White House said oil and gas export restrictions are not under consideration as officials focus on measures that raise actual supply rather than financial-market interventions.
- The policy discussion comes as shipping through the Strait of Hormuz has been throttled and crude benchmarks have topped $100, with analysts noting unsanctioning could offer brief relief but may also reduce pressure on Tehran.