Scott Bessent Issues 30-Day Russian Oil License To 'Stabilize' Crude Market, Move Will Reroute Oil To 'Countries Most In Need'

Benzinga05-19

Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license for Russian seaborne oil to stabilize the crude market amid supply shortages due to the closure of the Strait of Hormuz. In...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2636887611?lang=en_US&edition=fundamental","thumbnail":"https://cdn.benzinga.com/cdn-cgi/image/width=260,dpr=2,format=auto,quality=85/files/images/story/2026/05/18/January-16--2025---Washington-Dc-The-Sen.jpeg","is_english":true,"pubTime":"2026-05-19 11:39","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2636887611","market":"nz","top_or_hot":-1,"title":"Scott Bessent Issues 30-Day Russian Oil License To 'Stabilize' Crude Market, Move Will Reroute Oil To 'Countries Most In Need'","media":"Benzinga","content":"<div>\n<p>Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license for Russian seaborne oil to stabilize the crude market amid supply shortages due to the closure of the Strait of Hormuz.\nIn...</p>\n\n<a href=\"https://www.benzinga.com/markets/economic-data/26/05/52653487/scott-bessent-russian-oil-license-stabilize-crude-market\">Source Link</a>\n\n</div>\n","source":"benzinga_hot_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Scott Bessent Issues 30-Day Russian Oil License To 'Stabilize' Crude Market, Move Will Reroute Oil To 'Countries Most In Need'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nScott Bessent Issues 30-Day Russian Oil License To 'Stabilize' Crude Market, Move Will Reroute Oil To 'Countries Most In Need'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-19 11:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/economic-data/26/05/52653487/scott-bessent-russian-oil-license-stabilize-crude-market><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license for Russian seaborne oil to stabilize the crude market amid supply shortages due to the closure of the Strait of Hormuz.\nIn...</p>\n\n<a href=\"https://www.benzinga.com/markets/economic-data/26/05/52653487/scott-bessent-russian-oil-license-stabilize-crude-market\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PXJ","symbol_name":"Invesco Oil & Gas Services ETF","start_time":0,"source_url":"https://www.benzinga.com/markets/economic-data/26/05/52653487/scott-bessent-russian-oil-license-stabilize-crude-market","article_id":"2636887611","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/cdn-cgi/image/width=260,dpr=2,format=auto,quality=85/files/images/story/2026/05/18/January-16--2025---Washington-Dc-The-Sen.jpeg"],"rights":{"source":"benzinga_hot_news","url":"https://www.benzinga.com/markets/economic-data/26/05/52653487/scott-bessent-russian-oil-license-stabilize-crude-market","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2636887611","pubTimestamp":1779161940,"columns":[],"sourceInfo":{"source_id":"benzinga_hot_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license on the Russian seaborne oil to stabilize the crude market, which is dealing with supply shortages due to the closure of the Strait of Hormuz.\n\nSanctions Could Stabilize Oil Market\n\nIn a post on X, Bessent said the license would temporarily allow vulnerable countries to access Russian oil currently stranded at sea. The move would \"provide additional flexibility,\" and would \"stabilize the physical crude market.\"\n\nThe license would ensure that oil reaches the most energy-vulnerable countries, Bessent added. He also stated it will help redirect \"existing supply to countries most in need\" by limiting China's ability to \"stockpile discounted oil.\" \n\nBessent said that Treasury officials are working with the nations for more specific licenses as needed.\n\t\nhttps://x.com/SecScottBessent/status/2056411947982115207?s=20\n\nSupply Shortages\n\nThe Iran conflict has disrupted Middle East oil production, pushing global oil suppl","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PXJ":"Invesco Oil & Gas Services ETF","WTIU":"MICROSECTORS ENERGY 3X LEVERAGED ETN","USO":"美国原油ETF","DRLL":"Strive U.S. Energy ETF","USOI":"ETRACS Crude Oil Shares Covered Call ETN","USE":"USCF Energy Commodity Strategy Absolute Return Fund","USL":"United States 12 Month Oil Fund LP","DIG":"二倍做多美国油气指数","DUG":"二倍做空石油与天然气ETF(ProShares)","OIH":"石油服务ETF","ERX":"二倍做多能源ETF-Direxion","XES":"SPDR S&P Oil & Gas Equipment & Services ETF","SCO":"二倍做空彭博原油指数ETF","XOP":"油气开采指数ETF-SPDR S&P","BK4588":"碎股","BNO":"美国布伦特原油基金有限合伙企业","UGA":"United States Gasoline Fund LP","IEO":"iShares Dow Jones U.S. Oil & Gas","BWET":"BREAKWAVE TANKER SHIPPING ETF","UCO":"二倍做多彭博原油ETF","VDE":"Vanguard Energy ETF","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. Bull 2X Shares","OILK":"ProShares K-1 Free Crude Oil ETF","PXE":"Invesco Energy Exploration & Production ETF","FTXN":"First Trust Nasdaq Oil & Gas ETF","OILT":"Texas Oil Index ETF","DBE":"能源商品ETF-PowerShares","IXC":"全球能源业ETF-iShares","OILU":"MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN","DBC":"商品指数ETF-PowerShares DB","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares","BK4570":"地缘局势概念股","DBO":"原油ETF-PowerShares","BK4585":"ETF&股票定投概念","XLE":"SPDR能源指数ETF"},"translate_title":"斯科特·贝森特颁发为期30天的俄罗斯石油许可证以“稳定”原油市场，此举将使石油改道至“最需要的国家”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OIH":0.9,"XES":0.9,"USE":0.9,"DUG":0.9,"VDE":0.9,"DRLL":0.9,"BNO":0.9,"USL":0.9,"DBC":0.9,"PXE":0.9,"USOI":0.9,"FTXN":0.9,"IXC":0.9,"DIG":0.9,"ERX":0.9,"OILU":0.9,"GUSH":0.9,"USO":0.9,"XLE":0.9,"WTIU":0.9,"DBO":0.9,"BWET":0.9,"DRIP":0.9,"SCO":0.6,"OILT":0.9,"XOP":0.9,"UGA":0.9,"OILK":0.9,"PXJ":0.9,"IEO":0.9,"UCO":0.6,"DBE":0.9},"content_text":"Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license for Russian seaborne oil to stabilize the crude market amid supply shortages due to the closure of the Strait of Hormuz.\nIn a post on X, Bessent said the license would temporarily allow vulnerable countries to access Russian oil currently stranded at sea. The move would \"provide additional flexibility,\" and would \"stabilize the physical crude market.\"\nThe license would ensure that oil reaches the most energy-vulnerable countries, Bessent added. He also stated it will help redirect \"existing supply to countries most in need\" by limiting China's ability to \"stockpile discounted oil.\"\nBessent said that Treasury officials are working with the nations for more specific licenses as needed.\nThe Iran conflict has disrupted oil production in the Middle East, pushing global oil supply below demand this year. This has raised oil prices.\nCrude oil (June 2026) futures have spiked about 60% since the war erupted in late February. United States Oil Fund (NYSE:USO), which tracks the WTI futures prices, soared 82% in the same time frame.   \nFatih Birol, the head of the IEA, warned that the world is facing the “biggest energy security threat in history.”\nAramco CEO Amin Nasser warned that global energy markets could face a multi-year disruption if oil shipments through the Strait of Hormuz remain blocked.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.\nImage via Shutterstock/ Maxim Elramsisy\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2636887611","isCrawlerRequest":true}