Bessent Says Oil Price Declines Before 2026 End Depend on Iran Conflict

Sioux Falls, SD, October 18, 2026 —

U.S. Treasury Secretary Scott Bessent said the possibility of oil prices decreasing before the end of 2026 depends on the Iran conflict, according to the information provided.

The statement ties the prospect of lower oil prices to the conflict but does not specify how developments in Iran could affect prices. It also does not include a price forecast, an estimate of how large any decrease might be, or a more specific timeline for a potential change.

No details were provided about when or where Bessent made the statement, or whether he cited particular events or conditions related to the conflict. The available information does not indicate what oil prices he was referring to or provide a baseline for comparison.

As a result, the statement describes a condition for the possibility of prices falling, rather than a firm prediction that they will decline. It does not establish that a decrease will occur by the end of 2026, and no further explanation from Bessent was included in the summary.

The information provided also contains no details about the status or possible resolution of the Iran conflict. Without additional context, the specific relationship between the conflict and oil prices remains unspecified.

Story summarized from the original created by Ryan Mancini on thehill.com, see more information here.

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