US allows Iranian oil shipments through key strait to keep global supply steady

The United States is reportedly allowing Iranian oil tankers to pass through the Strait of Hormuz. Officials, including Treasury Secretary Janet Yellen, have indicated this is to maintain stability in global oil supplies and prevent a price spike.

A Trump-era advisor, Scott Bessent, commented on the situation, arguing that neutralizing Iran as a threat could remove what he called a decades-long 'terror premium' that has inflated oil prices. The discussion comes amid concerns over alternative shipping routes, like one through the Saudi port of Yanbu, which may not be a straightforward solution.