Bessent forecasts oil price drop to $40 post-Iran conflict
Treasury Secretary Scott Bessent anticipates that crude oil prices might decline to between $40 and $50 a barrel following the conclusion of the conflict with Iran, pointing to an anticipated surplus in supply. At present, Brent crude is trading at over $95. Bessent mentioned that reduced energy costs could help lower inflation and bond yields. Additionally, he dismissed worries regarding Norway potentially cutting its $75 billion investment in US Treasury securities.
by shortkt.com✓