Oil is climbing again after Treasury Secretary Scott Bessent said the US will squeeze Iran until its government falls — bad news for drivers and anyone hoping for cheaper energy.

• Bessent said sanctions and a naval blockade will be used to break the current Iranian government.
• Traders read that as more disruption to oil supply, so prices moved up.
• He also tried to calm markets by saying large-scale fighting probably will not restart.
• The conflict is now five months old after being pitched as something that would take a weekend.

Outlook: More economic pressure on Iran points to higher oil prices, not lower ones.