Bessent Predicts Oil Prices to Fall Further; WTI Crude Down 20-25% in Recent Months

According to Newsmax, on June 1, U.S. Treasury Secretary Bessent stated that if President Trump agrees to a potential Iran deal, the United States will employ military and economic measures to ensure strict compliance. He added that restoring freedom of navigation in the Strait of Hormuz would be a key benchmark for monitoring the agreement's implementation.

Bessent also predicted that energy prices will continue to decline in the coming months. He noted that WTI crude oil has fallen approximately 20-25% from recent highs, while gasoline prices have dropped about 5% and are expected to decline further.