US Treasury Secretary Bessent: US is opening up Strait of Hormuz

FXStreetMay 4, 2026 1:26 PM

View all comments（0）



In an interview with Fox News on Monday, US Treasury Secretary Scott Bessent said that the US is opening up the Strait of Hormuz and added that they have "absolute control" of it, per Reuters.

Key takeaways

"Iranians do not have control of the strait."

"US is firing only when fired upon."

"Now would be good time for international partners to step up pressure on Iran."

"I think market will be very well supplied."

"Aware gas prices affecting Americans but expecting prices to come down quickly when conflict ends."

Market reaction

The US Dollar (USD) Index showed no immediate reaction to these comments and was last seen rising 0.12% on the day at 98.32.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

SpaceX Stock Price Forecast: Morgan Stanley Says Lock-Up Expiration Is Entry Opportunity, Price Could Hit $140?

On August 7 (ET), SpaceX (SPCX) broke through a periodic high of $126.71. This followed the official unlocking of the first batch of 911.5 million insider restricted shares on August 6, representing a potential release of approximately $100 billion in market value. However, the sell-off that the mar

Gold Price Forecast: Can Gold Still Rise Above $4,300 Ahead of July Non-Farm Payrolls?

TradingKey - As of the European session on August 7, gold prices (XAUUSD) extended their recent strong performance, rising more than 1% intraday and briefly surpassing the $4,300 mark. With a cumulative weekly gain of over 6%, gold is on track to record its largest single-week increase since January. As the market awaits the release of U.S. July non-farm payroll data, investors are re-evaluating whether a Federal Reserve rate hike in September remains necessary, placing gold in a critical phase for its next near-term directional move.

SpaceX Stock Price Prediction: Shares Rise 6% on $100 Billion Unlock Day; Has SPCX Slump Ended?

TradingKey - As of August 6, Eastern Time, SpaceX (SPCX) shares rose 6.14% to close at $114.92. Notably, approximately 911.5 million SpaceX shares were unlocked on that day, becoming available for trade with a total value exceeding $100 billion. Although there were widespread market concerns that ma

Cloudflare Q2 2026 Earnings Preview: NET at a Record High, Can a Beat Justify It?

Cloudflare reports Q2 after the close Aug 6. A beat is expected (~$665M, $0.27 EPS), but with NET at a record ~$300 above most price targets, guidance is what matters.

July Nonfarm Payrolls Preview: Job Growth May Remain Low; How Will US Stocks, Dollar, and Gold React?

TradingKey - The U.S. Bureau of Labor Statistics will release the July non-farm payrolls report at 8:30 AM ET on August 7. Current market focus is centered not only on employment growth but also on the unemployment rate, average hourly earnings, and whether data from the previous two months will be revised downward again. These indicators will directly impact Federal Reserve rate hike expectations for September, as well as the trajectory of U.S. stocks, the U.S. Dollar, and gold (XAUUSD).

Featured Tools