Bitcoin has climbed to nearly $72,000. This comes after Treasury Secretary Bessent tried to ease wor

Treasury Clears Path for Stranded Russian Oil, Bessent Says—Bitcoin Jumps to $72K

Washington is stepping in as oil spikes. Treasury Secretary Scott Bessent said Thursday the Trump administration is moving to stabilize prices—and part of that means letting countries buy Russian crude that's been stuck at sea. "Temporary authorizations," he called them in an X post, aiming to "expand global coverage of existing supplies."

Bessent also pushed back on panic: the price jump is a "short-term, transient disturbance," he said, and long-term benefits will follow.

Markets are still jittery. Oil surged nearly 10% Thursday, flirting with $100, while U.S. stocks slid. But Bitcoin held $70K through the chaos—then ripped to $72K right after Bessent's remarks, now up 2.2% on the day. WTI has since cooled to $95.22.