🚨 JUST NOW: Treasury Secretary Bessent says oil could have hit $150 if not for sanctions relief.
Important details:
1: Bessent says the Treasury unlocked over 250 million barrels on the water via sanctions relief and without it, prices would be significantly higher
2: Bessent calls the claim that Iran received $14 billion in gains from sanctions relief “a myth”
3: Bessent says he was approached by 10 of the most vulnerable countries to oil shortages last week to extend sanctions relief
4: Trump administration willing to give Iran another 3 to 5 days of ceasefire, but a source confirms it will not be open-ended
5: No timeline has been set for the ceasefire extension, source briefed on the matter confirms
Bessent’s message is clear: the US has been actively suppressing oil prices through sanctions leverage, and that leverage is still live.