Commodities
Bessent Sees Oil Prices Plummet as Iran's Oil Reserve Dwindles
US Treasury Secretary Scott Bessent claims oil prices will drop sharply once the conflict with Iran is over. According to him, Iran has only 15 million barrels of oil left. Bessent believes that Iran's ability to obtain goods in exchange for oil will be lost within two weeks.
In an interview with Fox News, Bessent stated that the US has not allowed any Iranian oil to leave the country or be exported. He claimed that one billion barrels had passed with US permission, but none from Iran. Additionally, Bessent mentioned that 85-90% of Iran's missile factories have been severely damaged during the war.