US Treasury Chief Scott Bessent Predicts Sharp Drop in Oil Prices

Scott Bessent has predicted a significant decline in global oil prices, saying energy costs should fall substantially following the end of ongoing conflicts.
In an interview with a U.S. television channel, Bessent stated that energy prices are expected to ease considerably in the near future. He attributed this outlook to the strong position of U.S. energy exports, which he said are currently at high levels.
He noted that the main constraint on further growth in American energy exports is infrastructure limitations, adding that the United States is well-positioned to emerge as a major winner in global energy markets.
Bessent also said he would not be surprised to see more vessels passing through the Strait of Hormuz, suggesting that Iran is gaining limited benefit from attempts to collect tolls from passing ships.
He further remarked that no major changes are expected in the upcoming meeting between Donald Trump and China’s president.