US Treasury Secretary Scott Bessent expects oil prices to drop once tensions with Iran end and global supplies increase.
The secretary believes that additional crude supplies will flood the markets, creating a significant surplus and putting downward pressure on prices.
Brent crude was trading near $95.62 a barrel after reaching $97.60 during the week, while West Texas Intermediate was trading near $91.22.
More on Commodities
Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.
Market sentiment intelligence for apps, funds & agents
Location
729 55 Ave SW
Calgary AB T2V 0G4
Canada
© 2026 Guavy Inc
