US Treasury Secretary

March 20, 2026 11:56 AM

Global oil prices fall up to 3% as US signals possible easing of Iran sanctions

Global oil prices declined on Friday after the United States signalled a potential easing of sanctions on Iranian crude, amid efforts to stabilise supplies and ensure smooth shipping through the Strait of Hormuz. Brent Crude futures fell as much as 3.39 per cent to an intra-day low of $104.96 per barrel, while West Texas Intermediate (WTI) crude declined 3.22 per cent to $92.47, also touching an intra-day low. The drop in oil prices followed remarks by US Treasury Secretary Scott Bessent, who ...

March 20, 2026 10:12 AM

US may remove sanctions on Iranian oil stranded in tankers, Bessent says

The U.S. may soon remove sanctions on Iranian oil stranded on tankers at sea, Treasury Secretary Scott Bessent said on Thursday as Washington seeks to curb prices soaring over Iran's closure of the Strait of Hormuz. "In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program. He said the release of the sanctioned Iranian oil into global supplies would help keep oil prices down for...

September 15, 2025 4:21 PM

US, China close to TikTok deal but it could depend on trade concessions, Bessent says

The United States and China are close to reaching an agreement on social media platform TikTok but a deal could hinge on Chinese demands for trade concessions, U.S. Treasury Secretary Scott Bessent said on Monday before entering a second day of talks in Madrid. The U.S. and China delegations are discussing the divestment from TikTok by Chinese owner Bytedance as part of broader talks on tariffs and economic policy. "Our Chinese counterparts have come with a very aggressive ask," Bessent told r...