US Treasury Secretary BESSENT said oil could drop to as low as $40/bbl once the Iran conflict ends as large volumes of supply re-enter the market — “we could see $50, $40.” He noted recent US‑Iran military clashes pushed Brent above $95 and WTI near $90. BESSENT said higher energy prices have amplified inflation worries and lifted global benchmark bond yields, with the US 10‑year yield rising this week to its highest level since 2023. He downplayed reports that Norway’s sovereign wealth fund is

US Treasury Secretary BESSENT said oil could drop to as low as $40/bbl once the Iran conflict ends as large volumes of supply re-enter the market — “we could see $50, $40.” He noted recent US‑Iran military clashes pushed Brent above $95 and WTI near $90. BESSENT said higher energy prices have amplified inflation worries and lifted global benchmark bond yields, with the US 10‑year yield rising this week to its highest level since 2023. He downplayed reports that Norway’s sovereign wealth fund is cutting Treasury holdings, saying the fund intends to reallocate into other US assets, including Fannie Mae- and Freddie Mac-related debt.