Hassett: Energy prices will drop ‘like nothing you’ve ever seen before’ when strait is reopened
Summary
Kevin Hassett, the head of the National Economic Council, said energy prices will drop significantly when Iran reopens the Strait of Hormuz. He did not provide details about the current talks or strikes but emphasized the price change will be large once shipping resumes.Key Facts
- Kevin Hassett is the National Economic Council Director.
- He said energy prices will fall sharply after the Strait of Hormuz reopens.
- The Strait of Hormuz is a key waterway for global oil transport.
- Iran currently has the strait closed, affecting oil shipments.
- Hassett did not discuss details of ongoing negotiations or strikes.
- The reopening is expected to have a strong impact on energy prices.
- The comment suggests current energy costs are higher due to the closure.
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