Bessent on Global Oil Trade 3/4/26

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 4 March 2026

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Scott Bessent says the Trump Administration will roll out a series of measures aimed at stabilizing oil shipments through the Persian Gulf, as Washington steps into the oil tensions. He also addressed President Trump’s latest tariff policy. CNBC’s Dan Murphy reports from Dubai on the main energy traffic artery the Strait of Hormuz, and Sam Altman told OpenAI employees the company doesn’t get to choose how the military uses its technology. And, CNBC Cures’ first summit brought together rare disease families, care providers, regulators and innovators to tackle some of the world’s most difficult diagnoses. Check out CNBC Cures and watch videocasts of The Path with Becky on YouTube. Scott Bessent 14:16 CNBC Cures 35:32 In this episode: Dan Murphy, @dan_murphy Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNPC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Treasury Secretary Scott Besant on the state of the global economy
0:13.0	and the game change offered by the strikes against Iran.
0:17.0	The Iranian regime was the head of the snake for global terror, and we are going to cut off that head,
0:24.1	and Iran will no longer be able to project terrorism around the world.
0:30.4	Besson says he is about to make a series of announcements to support oil trade in the Gulf.
0:35.8	This was a well-telegraphed geopolitical event.
0:39.2	The crude market had already moved substantially over the past two months.
0:44.8	Plus all the rest of today's news that got us squawking, like the market reaction to Iran,
0:49.9	an open AI's Sam Altman on the AI company's deal with the Defense Department.
0:59.5	He wished that the deal had not come together so hastily because it made them look opportunistic and sloppy.
1:05.7	It's Wednesday, March 4th, 2026. Squawk Pod begins right now.
1:10.4	Stand Becky by in three, two, one. Cuea please.
1:12.6	Good morning, everybody.
1:13.5	Welcome to Squawk Box right here on CNBC.
1:16.1	We are live from the NASDAQ Stock Exchange in Times Square.
1:20.3	I'm Becky Quick along with Joe Kernan.
1:22.1	Andrew is off today.
1:24.0	It was a pretty wild day yesterday.
1:25.6	You did see the Dow down by about 1,200 points at its weakest levels.
	...

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