Oil wells22 Apr 2026 06:13
Iran's oil wells will soon be 'shut in' as blockade remains in place, US Treasury claims
Scott Bessent, the US Treasury secretary, has reaffirmed Donald Trump's earlier assertion that the US blockade of Iranian ports will remain in effect.
In a social media post, Bessent claimed it was only "a matter of days" before the storage on Kharg Island, a five-mile-long outcrop which accounts for more than 90% of Iran's oil exports, will be full and "the fragile Iranian oil wells will be shut in". He also committed to applying "maximum pressure through Economic Fury to systematically degrade Tehran’s ability to generate, move, and repatriate funds". Oil prices 'treading water': The oil price is hovering just under $100 a barrel,