Bessent Forecasts Oil Drop, Strong Economy Amid Iran Tensions
Treasury Secretary Scott Bessent said oil could fall to $40‑$50 per barrel once the Iran conflict ends, as abundant supply will hit the market. He made the remarks in a Fox News interview.
“On the other side of this, we actually could see oil prices $40 or $50 because there’s so much supply coming on. It’s just constricted right now,” he told host Lara Trump.
Bessent declared the US economy “very strong” and “accelerating,” citing a productivity burst. He added that job growth and wage growth remain robust.
He called the United States an energy superpower and leader in AI and computing, saying the current energy shock is temporary.
Bessent credited Trump’s immigration policies for returning jobs and boosting wages, noting working‑class Americans are outpacing inflation but still falling short of acceptable levels.
He said wage growth will continue as manufacturing and construction renaissances take hold, and once the war ends, real gains will materialize.
He warned that the Strait of Hormuz will lose its importance as Gulf nations build alternative pipelines, reducing Tehran’s ability to threaten oil flows.
Bessent described the US campaign against Iran as the greatest economic isolation effort in history, a “one-two punch” of blockade and sanctions aimed at asphyxiating the regime.
He predicted a safer world with Iran unable to develop a nuclear weapon and said the region is in a “lift‑off” phase.
Max Bacall, associate editor for Fox News Digital, reported.
