Iran rejects Bessent's oil-sanctions-lift offer: 'No surplus crude oil left for international markets'

Iran oil ministry spokesman Saman Ghoddoosi posted on X on Day 21 directly rebutting US Treasury Secretary Scott Bessent's earlier signal that Washington could lift sanctions on Iranian oil at sea to help ease global supply pressure. Ghoddoosi: 'Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US treasury secretary's statement is solely aimed at giving hope to buyers.' This is a significant counter-signal: even if the US were to lift sanctions on Iranian oil exports, Iran claims it has nothing to offer. This could mean: (1) Iran's oil infrastructure has been degraded by strikes, (2) existing supply is committed to other buyers, or (3) Iran is using the statement as a diplomatic signal that Bessent's overture is meaningless. Brent crude remains at 45/bbl with Hormuz transit at zero.