Oil Prices Could Plummet to $40-$50 Per Barrel After Iran Conflict Resolves

Treasury Secretary Scott Bessent predicts oil prices could drop as low as $40 per barrel once the Iran conflict ends, citing abundant supply poised to flood the market after constraints are lifted. This decrease is expected following the resolution of the ongoing conflict, which has been driving up prices in recent months. The predicted price range of $40-$50 per barrel reflects a significant drop from current levels.