Saturday Mar 21, 2026
Saturday Mar 21, 2026
Saturday, 21 March 2026 00:00 - - {{hitsCtrl.values.hits}}
US Treasury Secretary Scott Bessent said Washington is considering easing sanctions on Iranian oil already in transit as energy prices rise sharply amid the Middle East conflict.
The move comes as authorities seek to contain fuel costs filtering through to consumers, although officials clarified that broader restrictions on oil and gas exports are not under review.
Bessent said the US could also release additional volumes from its strategic petroleum reserves to stabilise prices, as global markets react to supply disruptions linked to the conflict.
He noted that roughly 140 million barrels of Iranian oil are currently at sea, equivalent to about two weeks of supply, and could be used to ease market pressures.
