Oil tankers are crossing the Strait of Hormuz and Iran's actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration's position that the war should be over in weeks, not months. "Already you're seeing tankers are starting to dribble through the straits, and I think it's a sign of how little Iran has left," he said. "We're seeing some signs that they might be pulling that back to make sure that they have enough energy for themselves. Trump on Monday postponed his meeting with Chinese President Xi Jinping to focus on the war in Iran. "This is one case where the objectives of both countries are aligned, that we want, you know, a stable world oil market," he said.

Source: The Telegraph March 17, 2026 13:01 UTC