Bessent predicts oil prices could drop as low as $40 after Iran conflict ends and supply floods market

Treasury Secretary Scott Bessent predicted oil prices could fall to between $40 and $50 per barrel once the Iran conflict ends, arguing that abundant supply is poised to hit the market after constraints ease.

Bessent asserted that the American economy is "very strong" and even accelerating, saying that the country is experiencing a "productivity burst" during an interview on "My View with Lara Trump."

"On the other side of this, we actually could see oil prices $40 or $50 because there's so much supply coming on.