Name: Bessent Says He’s ‘Confident’ Traffic Will Increase Through Strait of Hormuz
Uploaded: 2026-03-26T16:14:00Z
Duration: 1 min 53 s
Description: Treasury Secretary Scott Bessent said “the oil market is well supplied” and that the American public is prepared to endure “short-term volatility” to achieve security against Iran.

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Treasury Secretary Scott Bessent said “the oil market is well supplied” and that the American public is prepared to endure “short-term volatility” to achieve security against Iran. Photo: Will Oliver/Pool/EPA/Shutterstock

https://m.wsj.net/video/20260326/6ae21412-423e-4028-99d4-661a270425db/1/hls/manifest-hd-wifi.m3u8

Treasury Secretary Scott Bessent said “the oil market is well supplied” and that the American public is prepared to endure “short-term volatility” to achieve security against Iran.

Bessent Says He’s ‘Confident’ Traffic Will Increase Through Strait of Hormuz

Many people, especially the Democrats, underestimate the will of the American people for short-term volatility for 50 years of safety that we are going to have on the other side of this. And I believe energy prices will be lower, inflation will be lower before we had the appearance of security, which is not real security. Now, the American people and the world will have absolute security. Through your maximum pressure campaign, Treasury has worked to uncover all financial lifelines through the regime and cut them off. You gave that order last March. This was not something that happened overnight. This is something that has been contemplated for almost a year. Therefore, the Iranian financial system collapsed in December. We have systematically weakened Iran's ability to fund operations and procure weapons, and that required months of preparations. Threats to American national security have no place in the global economic system. The oil market is well supplied. We have taken actions to ensure oil supplies stranded at sea are made available to the global market. Your bold actions like the development finance corporations, maritime reinsurance program, in conjunction with central command will soon provide shippers through the Gulf region with a level of security we have never seen before. Mr. President, we are starting to see more and more movement in and out of the Gulf today, and this is more than yesterday, and this is the beginning. I'm confident that shipping traffic will continue to increase on a daily basis, even before we secure the straits.