US may lift sanctions on Iranian oil already shipped, according to the Treasury

TL;DR

U.S. Treasury Secretary Scott Bessent indicated potential sanctions relief for Iranian oil already shipped and at sea.
This move is a response to rapidly increasing energy prices caused by the conflict in the Middle East.
The U.S. may also release more oil from its strategic reserves.
Iran's recent attacks have significantly disrupted commercial shipping through the Strait of Hormuz, impacting energy supply chains.
Brent crude prices saw a substantial increase, though they later moderated.
The U.S. has also temporarily suspended a century-old shipping law to help ease energy prices.

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