Bessent forecasts oil at $40 post Iran conflict

Treasury Secretary Scott Bessent predicted that oil prices could drop to $40–$50 per barrel once the Iran conflict ends, citing increased global supply. He emphasized the strength of the U.S. economy, job growth, and ongoing wage increases amid tensions with Iran and U.S. sanctions aimed at isolating Iran economically. Bessent also forecasted that alternative pipeline routes would reduce Iran’s influence over global oil trade.

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