U.S. Treasury Sees Oil Falling to $40 After Iran Conflict

US Treasury Secretary Steven Mnuchin expected oil prices to fall to between $40 and $50 per barrel once the military conflict with Iran ends, as markets stabilize and global supplies increase. He clarified that the resolution of tensions would lead to an influx of additional crude into the market, potentially causing a significant surplus and putting downward pressure on prices. Additionally, lower energy prices would help reduce inflationary pressures and contribute to a decline in US Treasury yields, which had recently risen due to worries about higher borrowing costs resulting from increased oil prices.

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