Oil may drop to $40 post-Iran conflict

US Treasury Secretary Scott Bissent expected oil prices to fall to between $40 and $50 per barrel after the military conflict with Iran ends, once markets stabilize and global supplies increase. He explained that a decline in oil prices would lead to a significant surplus in supply, putting downward pressure on prices and easing inflationary pressures. Additionally, a drop in energy prices would likely impact US Treasury bond yields. Currently, crude oil prices are continuing to rise due to risks to energy supplies and navigation in the Strait of Hormuz, with Brent crude steady at around $95.62, and West Texas Intermediate rising to approximately $91.22.

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