Bessent Forecasts Oil Price Crash to $40 After Iran Conflict

Treasury Secretary Scott Bessent believes that once the Iran conflict is over, oil prices will plummet to as low as $40 a barrel. This would lead to lower bond yields, which have recently reached their highest levels in years.

In an interview with Steve Bannon, Bessent stated that the oil market will be oversupplied after the conflict, leading to a potential price drop to $50 or even $40 per barrel.