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· collected 2026-09-06 · by Max Bacall
Treasury Secretary Scott Bessent predicts that oil prices could drop to between $40 and $50 per barrel once the Iran conflict ends. According to Bessent, the US has "so much supply coming on" due to its status as an "energy superpower", which will alleviate current market constraints caused by the conflict. He also stated that the US economy is strong, with job growth and wage growth increasing despite some Americans still struggling to break even with inflation. Bessent believes the Iran conflict is a temporary "energy supply shock" that will soon subside as alternative pipeline routes are constructed around the Strait of Hormuz.
Written by the local model on 2026-09-06,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Treasury Secretary Scott Bessent predicted that oil prices could drop as low as $40 per barrel after the Iran conflict ends and abundant supply hits the market. He believes the American economy is strong and accelerating, with a "productivity burst" leading to increased job and wage growth. However, he noted that working-class Americans are still struggling to keep up with inflation. Bessent thinks the current "energy supply shock" is only temporary, as the US is an "energy superpower". He also mentioned a manufacturing renaissance and a future of strong economic growth.
Written for “Oil Price Decline Predictions” on 2026-09-07,
grounded in this article and the 0 other(s) covering the same event.
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Leaning score +0.85 for article 5716 (high confidence, 1 verified quote) · logged 2026-09-06
Treasury Secretary Scott Bessent predicted oil prices could fall to between $40 and $50 per barrel once the Iran conflict ends, arguing that abundant supply is poised to hit the market after constraints ease.
uncertain
constraints → predict → market
Bessent asserted that the American economy is "very strong" and even accelerating, saying that the country is experiencing a "productivity burst" during an interview on "My View with Lara Trump."
"On the other side of this, we actually could see oil prices $40 or $50 because there's so much supply coming on.
uncertain
we → assert → this
It's just constricted right now," he told Fox News host Lara Trump.
asserted
he → constrict → Trump
The "energy supply shock" is only temporary, Bessent said, calling the United States an "energy superpower" and a leader in artificial intelligence and global computing power.
asserted
Bessent → say → intelligence
"Americans, on average, are breaking even.
asserted
Americans → break → ?
Working-class Americans at the bottom of the wage spectrum are doing a little better than inflation, but we don't believe that that is acceptable," the Treasury chief said.
asserted
chief → do → inflation
"But what is the good news is that these wage increases are going to keep going.
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increases → go → ?
We've got a manufacturing renaissance, a construction renaissance.
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We → get → renaissance
So the wages will keep going, this war will end, and those will turn into real wage gains.
asserted
those → keep → gains
"
Bessent's comments come as tension between Washington, D.C., and Tehran show no sign of cooling following Saturday’s U.S. strikes on Iranian tankers.
asserted
tension → come → tankers
He predicted that the Strait of Hormuz would soon become less crucial to global oil trade as Gulf nations work to construct alternative pipeline routes that will allow them to circumnavigate the tumultuous waters, diminishing Iran's ability to threaten oil flows.
asserted
them → predict → flows
We are going to asphyxiate this regime," Bessent said, adding that the combination of the blockade and sanctions is "one of the most powerful one-two punches in the history of economic isolation."
asserted
combination → go → isolation
"I think we are going to get to the other side of this Iran conflict with a safer world, with an Iran that cannot have a nuclear weapon, and that we are in the lift-off phase."
asserted
we → think → phase
