U.S. Treasury Secretary Bessent told Sky News that the U.S. Navy will escort oil tankers through the Strait of Hormuz, possibly in coordination with an international coalition. Iran's new Supreme Leader, Mojtaba Khamenei, previously stated his intention to use the strait's closure as leverage against the U.S. and Israel; the waterway carries approximately 20% of the world's oil supply. Iran's previous attacks on shipping and energy infrastructure in the Persian Gulf have pushed oil prices back above $100 per barrel. This price increase comes after developed countries announced the release of 400 million barrels of oil from their strategic reserves, nearly half of which will come from the United States. Bessent also mentioned in the interview that the war has cost the U.S. approximately $11 billion so far. U.S. Energy Secretary Wright previously stated that the escort operation would take place soon but preparations were not yet complete. (Jinshi)