US Treasury Secretary Signals Oil Price Relief Before Labor Day

According to Treasury Secretary Scott Bessent, oil prices have already fallen and the Strait of Hormuz is expected to reopen earlier than initially suggested, signaling potential relief for American consumers ahead of Labor Day on September 7. During a House Ways and Means Committee hearing, Bessent stated that existing indicators suggest the Strait should open sooner, countering earlier suggestions that it might remain closed until the holiday.
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