Oil prices fall as Trump pressures allies to help protect tankers in Strait of Hormuz [MSNBC.com]
JP Morgan Chase & Co. (JPM)
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Source: MSNBC.com
In this articlewatch nowVIDEO7:3807:38Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of HormuzSquawk BoxOil prices fell on Monday as the Trump administration ramps up pressure on allies to help safeguard the Strait of Hormuz and as investors react to threats facing Middle East export facilities.International benchmarkBrent crudeWest Texas IntermediateBoth contracts have surged about 40% during the U.S.-Iran war, reaching their highest levels since 2022, as shipping traffic through the Strait of Hormuz has been severely disrupted. Brent closedabove $100The latest moves come shortly after Treasury Secretary Scott Bessentsaid5:2705:27Strait of Hormuz seeing less than a handful of tankers pass per day, says Kpler's Matt SmithPower Lunch"The Iranian ships have been getting out already, and we've let that happen to supply the rest of the world," Bessent told CNBC's Brian Sullivan.U.S. PresidentDonald TrumpTrump alsotold NBC NewsKharg IslandThe U.S. president ord
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