Break-Glass Oil Plan Emerges as Iran War Intensifies
TL;DR Summary
Treasury Secretary Scott Bessent described an emergency break-glass plan to lift oil sanctions—potentially including Iranian oil—to blunt price spikes as the U.S. escalates its war with Iran, with Brent crude near $120 a barrel and U.S. pump prices rising toward records, while officials push for supply boosts amid ongoing conflict.
- Top Trump Goon Presses Panic Button on War Escalation The Daily Beast
- Iran hits Gulf energy sites, escalating war, as U.S. mulls sanctions rollback The Washington Post
- US considers lifting sanctions on some Iranian oil BBC
- Bessent rules out government intervention in oil futures market during Iran war Fox Business
- Trump administration may unsanction some Iranian oil as energy prices spike, Bessent says Politico
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