A global energy crisis erupted after Iran moved to shut down one of the most critical oil shipping routes on the planet — but the Trump administration says it already has a plan to blunt the impact.
And according to Treasury Secretary Scott Bessent, the strategy could stabilize the market faster than critics expect.
The move, announced late Thursday, is already sending Democrats into a political uproar. But supporters of the administration argue the decision is a calculated response to an unprecedented global energy disruption.
Iran Closes One of the World’s Most Critical Oil Passages
The crisis began when Iran moved to block the Strait of Hormuz — a narrow but crucial maritime corridor that carries an enormous share of the world’s energy supply.
Roughly 20 percent of the planet’s oil shipments pass through the strait every day, making it arguably the most important oil chokepoint on Earth.
>> Click Here To Continue Reading <<
