Treasury Secretary Bessent says Iran is earning nothing from oil for the first time since it started pumping — bad for Tehran, potentially good for American drivers if it ends in a deal.

• Iran has no oil on the water this week and no oil revenue, while the US keeps shipping over a billion barrels through the strait.
• The blockade is squeezing Iran harder than any previous sanctions push.
• A deal where Iran gives up uranium enrichment could send gas prices down, lift the economy, and pull interest rates from 7.5% toward the high 5s.
• High gas and grocery prices are the real political risk at home — most Americans link the pain to the Iran conflict and little else.
• Republicans look weak heading into the midterms, with JD Vance the likely 2028 front-runner after keeping his distance from the war.

Outlook: Watch for any announcement of an Iran nuclear deal or a US foothold at Kharg Island — that would be the moment gas prices and the political mood both turn.