U.S. Treasury Secretary Says Oil Prices Should Fall Significantly After War on May 3

According to U.S. Treasury Secretary Bessent, oil prices should decline significantly after the war, with futures markets predicting a downturn on May 3. Bessent stated that Iran has been largely unsuccessful in its attempts to collect transit fees from ships passing through the Strait of Hormuz. The U.S. currently maintains record-level energy exports, with infrastructure constraints being the only limiting factor for further expansion.