U.S. Treasury Secretary Scott Bessent has articulated plans for the United States to gradually regain control over the strategic Strait of Hormuz, a crucial passage for global oil shipments. Amid escalating tensions between the U.S. and Iran, Bessent noted that the oil market remains well supplied and that more vessels are now transiting the strait. The White House has downplayed the reopening of the strait as essential to resolving the ongoing conflict with Iran, but it acknowledges the necessity of ensuring the safety of oil shipping routes. Bessent emphasized that the U.S. may consider various options, including escalating military actions, to stabilize the region and maintain freedom of navigation. As the situation unfolds, there are rising fears among shippers regarding safety and security while the U.S. aims to resume normal operations in the strait.