US Treasury nominee Scott Bessent says crude oil prices could fall sharply after a potential end to the Iran war, with prices possibly reaching around $40. He frames the outlook around a large “post-war” adjustment, implying that current conditions are keeping prices elevated.
Bessent does not specify when the war would conclude, and at the same time remarks that the conflict shows few signs of ending in the near term. This lack of a clear timeline means the market impact of his projection depends on future developments in the conflict and related supply and demand conditions.
Across the coverage provided, the key common thread is the same broad forecast: a significant decline in oil prices is possible after the war ends, but uncertainty remains because the end of the conflict is not imminent based on his comments.
