{"id":43755,"date":"2026-03-30T17:43:34","date_gmt":"2026-03-30T17:43:34","guid":{"rendered":"https:\/\/www.vtmarketsglobal.com\/en\/uncategorized\/43755\/"},"modified":"2026-03-30T17:43:34","modified_gmt":"2026-03-30T17:43:34","slug":"scott-bessent-told-fox-news-the-oil-market-is-well-supplied-though-extra-supplies-would-help","status":"publish","type":"post","link":"https:\/\/www.vtmarketsglobal.com\/en\/live-updates\/43755\/","title":{"rendered":"Scott Bessent told Fox News the oil market is well supplied, though extra supplies would help"},"content":{"rendered":"US Treasury Secretary Scott Bessent said in a Fox News interview on Monday that the oil market is well supplied. He added that extra supply would still be helpful, according to Reuters.\n\nBessent said the US is seeing more oil supply as countries make agreements with Iran. He also said the US will take control of the Strait of Hormuz over time.\n\n<h3>Oil Market Supply Outlook<\/h3>\nThe comments did not move markets much. At the time of publication, US stock index futures were up between 0.7% and 0.8%.\n\nThe market seems to agree with the Treasury Secretary&#8217;s view that oil is well supplied for now. Last week\u2019s Energy Information Administration (EIA) data supported this, showing a modest build in U.S. crude inventories of 1.8 million barrels, while OPEC+ has signaled no immediate plans to alter its output quotas. This stability is reflected in front-month futures contracts, which have been trading in a narrow range.\n\nHowever, the casual mention of taking control of the Strait of Hormuz is a significant geopolitical statement that should not be ignored. We all remember the sharp spike in volatility during the third quarter of 2025 when tensions last flared in that region, causing Brent crude prices to jump nearly 12% in a week. With approximately 21 million barrels of oil passing through that chokepoint daily, it remains the market&#8217;s most critical vulnerability.\n\nThe market&#8217;s calm response has pushed implied volatility down, with the CBOE Crude Oil Volatility Index (OVX) currently sitting near a six-month low of 32. This makes buying protection or placing speculative bets relatively cheap for traders. It presents a clear opportunity to purchase long-dated call options to guard against a sudden supply shock.\n\n<h3>Equity Market Risk Implications<\/h3>\nThis complacency also extends to the equity markets, which are clearly betting on stable energy prices to support economic activity. A sudden repricing of geopolitical risk in the oil market would hit transportation and industrial stocks particularly hard. Therefore, traders might consider pairing long oil volatility positions with buying put options on a transport-tracking ETF.\n\n<b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now. <\/b>\n<p>\r\n\r\n<p><strong>Start trading now &#8211; Click <a href=\"https:\/\/www.vtmarketsglobal.com\/en\/trade-now\/\">here<\/a> to create your real VT Markets account <\/strong> <\/p>\r\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Bessent says oil market well supplied; more supply welcome, Iran deals rising, Hormuz control planned.<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46],"tags":[],"class_list":["post-43755","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"josephine","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/josephine\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/43755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=43755"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/43755\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=43755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=43755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=43755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}