US not targeting Iran’s energy infrastructure, may release more oil, says Bessent

Investing.com -- U.S. Treasury Secretary Scott Bessent said Thursday that the United States is not attacking Iran's energy infrastructure amid the ongoing U.S.-Israel conflict with Iran, according to a Fox Business Network interview.

Bessent stated that the U.S. has allowed Iranian oil to continue flowing out of the Gulf. He added that the U.S. may lift sanctions on Iranian oil currently on water in the coming days.

The Treasury Secretary noted that Iranian barrels total about 140 million. He emphasized that there is plenty more the U.S. can do regarding oil supply.

Bessent said the U.S. could conduct another Strategic Petroleum Reserve release to keep prices down. He clarified that the U.S. Treasury is not intervening in futures markets.

However, Bessent explained that the Treasury is intervening in markets by creating excess supply with oil that is on the water. He reiterated that the government will not conduct a financial market intervention.

Regarding international cooperation, Bessent said he would expect Japan to be interested in securing oil supplies from the Gulf. He noted that U.S. President Donald Trump has an excellent relationship with the Japanese leader.

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