Business & Finance

Treasury secretary says oil prices could drop to forty dollars post conflict

Fox News reports that Scott Bessent anticipates crude prices tumbling once fighting with Iran concludes.

Updated Sep 6, 2026 · 16:23 UTC1 reports

The short version

Treasury Secretary Scott Bessent projected oil prices could plunge to $40 to $50 a barrel after the conflict with Iran wraps up.[Fox News]
Bessent attributed the projected drop to a large volume of constrained oil supply ready to enter global markets.[Fox News]
He maintained that the current energy supply shock is brief and that alternative pipeline projects will reduce reliance on the Strait of Hormuz.[Fox News]

Treasury Secretary Scott Bessent forecasted that oil prices could drop to $40 to $50 per barrel once the conflict with Iran concludes.[Fox News]
Bessent labeled the ongoing energy supply disruption as a temporary shock and described the United States as an energy superpower.[Fox News]
Bessent stated that Gulf nations are working to construct alternate pipelines to bypass the Strait of Hormuz.[Fox News]
Bessent characterized the underlying American economy as very strong, noting solid wage and employment growth.[Fox News]

The timeline for the conclusion of the Iran conflict and the actual volume of oil supply that will reach the market remain unverified.[Fox News]
The progress and completion dates for alternative pipelines intended to circumvent the Strait of Hormuz are unspecified.[Fox News]

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.