Geopolitics
US Treasury Secretary Bessent says Iran doesn't control the Strait of Hormuz and the US took out Iran radar along the strait, as well as got 17mln bbls of crude out on Monday
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US Treasury Secretary Bessent stated Iran does not control the Strait of Hormuz, highlighting crude flows, accelerating Iranian bankruptcy, and temporary elevated energy prices.
News detail
Says: China pays Iran in yuan and when yuan cannot be converted to dollars, Iran starves. Have temporary elevated energy prices, but adds they will drop. We are in acceleration phase of Iran bankruptcy and maybe Iran will lash out more kinetically.
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