Brent Crude May Plummet to $40-$50 as Iran Conflict Resolves

U.S. Treasury Secretary Bessent believes that once the Iran conflict ends, international oil prices could drop sharply to between $40 and $50 per barrel.

This potential decline in energy costs could help ease overall inflationary pressures and drive market interest rates lower, according to Bessent.

The current military situation with Iran is 'stalemated,' said a Republican member of the U.S. House Armed Services Committee.

As a result, Brent crude has risen sharply to trade above $95 per barrel, while U.S. West Texas Intermediate (WTI) crude holds steady around $91 per barrel.