White House Downplays Iran Conflict Impact, Sees Quick Resolution

The White House has downplayed the impact of Iran's actions on the Strait of Hormuz, stating that oil tankers are 'starting to dribble through' the shipping route. According to White House economic adviser Kevin Hassett, this is a sign that Iran has limited capabilities.

Hassett also expressed optimism that the conflict will be over in weeks, not months, and that there will be price repercussions when it is resolved. He noted that Asia may pull back on exporting refined oil to the U.S. due to decreased supply from the Middle East.

The Trump administration has stated that its actions in Iran are aligned with China's interests, with Hassett stating that a stable world oil market benefits both countries.