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المشهد العربي
US Treasury Secretary predicts oil will fall to $40
U.S. Treasury Secretary Scott Bessent expects oil prices to fall to a range between $40 and $50 per barrel after the confrontation with Iran ends, with the market potentially facing an oversupply due to the injection of new volumes. Brent crude oil stabilized above $96, while U.S. WTI (West Texas Intermediate) surpassed $91, following the recent military escalation between Washington and Tehran. Bessent also confirmed the existence of an unprecedented correlation between oil prices and sovereign bond yields, noting that the Norwegian sovereign wealth fund’s plan to reduce its holdings of U.S. Treasury bonds aims to redirect investments toward alternative assets to maximize returns.
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