U.S. Treasury Secretary Scott Bessent said on Monday (March 30) that the global oil market is well supplied, with more boats traveling through the Strait of Hormuz.

"Over time, the U.S. is going to retake control of the Straits and there will be freedom of navigation, whether it is through U.S. escorts or a multinational escort," Bessent said in an interview with Fox News Channel's Fox & Friends.

Bessent's comments came as U.S. President Donald Trump issued another warning to Iran on Monday to open the Strait of Hormuz, a waterway used for shipping a fifth of global oil and liquefied natural gas supplies, or risk U.S. attacks on its energy infrastructure.

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UNIDENTIFIED LOCATION (MARCH 30, 2026) (FOX NEW CHANNEL'S "FOX AND FRIENDS" - Broadcast: Mandatory on-air and on-screen credit to "Fox News Channel's Fox & Friends". No obstruction of Fox bug. No more than two minutes use allowed. No archive. No reuse. No resale. Digital: Mandatory on-air and on-screen credit to "Fox News Channel's Fox & Friends". No obstruction of Fox bug. No more than two minutes use allowed. No archive. No reuse. No resale.)

1. (SOUNDBITE) (English) U.S. TREASURY SECRETARY, SCOTT BESSENT, SAYING:

"The market is well-supplied, and we are seeing more and more ships go through on a daily basis as individual countries cut deals with the Iranian regime for the time being. But over time, the U.S. is going to retake control of the Straits."

2. WHITE FLASH

3. (SOUNDBITE) (English) U.S. TREASURY SECRETARY, SCOTT BESSENT, SAYING:

"Any supply is helpful, and we want to get back to normal."