The new attacks on energy infrastructure in the Middle East caused a new rise in the price of oil this Thursday (19), with Brent – an international reference – exceeding US$ 115 per barrel.
The rise in oil and other commodities amid the ongoing conflict with Iran has prompted the US to consider emergency measures such as easing sanctions on Iranian crude oil and using its own reserves to stabilize the market.
Treasury Secretary Scott Bessent stated in an interview with Fox News Business that Donald Trump’s administration would be considering lifting some sanctions on Iranian oil that is already in maritime transit, an amount he estimates at around 140 million barrels, to immediately inject the product into the global market.
“Essentially, we will use barrels of Iranian oil against the Iranians themselves to keep prices low for the next 10 to 14 days as we continue this campaign,” said Bessent, who claimed that the US Executive has “many additional levers” and tools to stabilize the economy.
The assessment comes at a time when traffic in the Strait of Hormuz – through which a fifth of the world’s oil and natural gas supplies pass – remains virtually paralyzed due to attacks and threats from Iran.
In addition to using Iranian crude oil, the US is considering using resources from its own strategic reserve to contain the rise in the energy sector.
