US allows Iranian oil shipments while seeking coalition to secure Strait of Hormuz

The United States is reportedly allowing Iranian oil tankers to pass through the Strait of Hormuz to maintain global oil supplies. This is happening even as the Trump administration seeks to form a coalition, potentially including Japan and other nations, to help secure the vital waterway.

Trump advisor Scott Bessent, speaking to CNBC, confirmed the U.S. is letting Iran ship its oil. Another Trump advisor argued that neutralizing the threat from Iran could remove a long-standing 'terror premium' that has inflated global oil prices for decades.