US Treasury Secretary Scott Bessent sees crude oil as low as $40 post-Iran war, lower bond yields
- Treasury Secretary Scott Bessent predicted oil prices could fall to $40-$50 per barrel after the Iran conflict ends due to abundant supply entering the market.
- Bessent described the US economy as very strong, experiencing a productivity burst and a manufacturing and construction renaissance leading to ongoing wage gains.
- He stated the US leads a powerful economic isolation campaign against Iran, aiming to block Iran's nuclear ambitions and asserting control over the Strait of Hormuz.
- Bessent said Gulf nations are building alternative pipelines to reduce dependence on the Strait of Hormuz, diminishing Iran's ability to threaten oil flows.
35 Articles
35 Articles
Bessent predicts oil prices could drop as low as $40 after Iran conflict ends and supply floods market
Treasury Secretary Scott Bessent predicts oil prices could fall to between $40 and $50 once the Iran conflict ends, saying abundant supply is poised to hit the market after constraints ease.
US Treasury Secretary Scott Bessent says crude oil prices are set to fall significantly, reaching $40 per barrel once the war with Iran ends.
Protothema
PentapostagmaSuch a development will also drag down bond yields, which have recently reached the highest levels in recent years.
The Economic Times
Times of IndiaUS Treasury Secretary Scott Bessent sees crude oil as low as $40 post-Iran war, lower bond yields
Treasury Secretary Scott Bessent anticipates oil prices will fall significantly after the Iran conflict concludes. He expects crude oil to reach as low as forty dollars a barrel due to oversupply. This decline in oil prices will subsequently lower bond yields, which have recently surged. Bessent also downplayed Norway's sovereign wealth fund proposal to reduce Treasury holdings.
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