Bessent Confused by Oil Price Spike After Trump Threatens 'ECONOMIC D-DAY'

Treasury Secretary Scott Bessent expressed confusion over the sudden spike in crude oil prices on Thursday, hours after Donald Trump threatened another escalation against Iran.

Bessent spoke to reporters about the muted effect of the Treasury Department's surprise bond buyback announcement from the previous day, saying that the department is 'trying to bring the market back into equilibrium.'

'We've got a spike in oil prices today that I don't really understand,' he said.

Oil prices rose by 3 percent after Trump's announcement of an 'ECONOMIC D-DAY' on Iran, reaching a three-week high. Bessent told CNBC that he thinks the rising prices are a response to a misinterpretation of Trump's announcement.