Kevin Hassett, Chairman of the White House Council of Economic Advisers [UPI Yonhap News File Photo]

Kevin Hassett, the White House's top economic advisor and a key aide to U.S. President Donald Trump, predicted on the 24th (local time) that the global oil refining facilities would receive sufficient crude oil supplies within one to two months after the end of the war with Iran.

Speaking on CBS's "Face the Nation" program, Hassett said, "Once the (Strait of) Hormuz is open, tankers will return, and crude oil will be replenished to refineries almost immediately."

Hassett explained, "Tankers travel about 300 nautical miles (about 556 km) per day. So, places close to the strait, like India or Pakistan, will receive crude oil (immediately), and then they will immediately convert it into refined products."

He added, "Places further down, like New Zealand, will take a bit longer," but stated, "Actually, within approximately one to two months, all oil refining facilities on Earth will secure all the crude oil they need."

However, regarding when the opening of the Strait of Hormuz following a peace agreement between the United States and Iran will be realized, he responded, "That is a matter for (President) Trump, (Secretary of State) Marco Rubio, and the Iranian side to resolve."

When pointed out that clouds are gathering over the economy due to rising prices, even as the U.S. stock market continues to set new all-time highs, Hassett countered, "There are no clouds gathering over the economy at all."

He also responded to concerns about a sharp decline in consumer sentiment to historic lows due to rising oil prices and inflation fears stemming from the Iran war, arguing that the respondents' political leanings influenced the results, claiming that those identifying as undecided were actually Democrats.

For these reasons, Hassett emphasized that attention should be paid to consumer confidence rather than consumer sentiment, stating, "Consumer confidence aligns with all the other positive numbers we are seeing right now."

The consumer confidence index, released by the U.S. economic research organization The Conference Board, showed a slight gain last month despite economic uncertainties and rising oil prices due to the Iran war.