US Treasury Secretary Scott Bessent said on Sunday that a turnaround in energy prices could come after the end of the war with Iran. He said energy prices would fall once the conflict is over. Fuel prices remain very high, and the remarks came as US inflation stood at 3.7 percent in September.
Campaign backdrop
The remarks were made during the campaign for the upcoming US midterm elections. Bessent’s comments were reported by Iran International.
Bessent’s statement sits at odds with President Donald Trump’s repeated claim that rising fuel prices are mainly due to Ukraine’s attacks on Russian oil refineries.
What comes next
Bessent tied the outlook for energy to the end of the conflict rather than to a specific date. No timetable for an end to the war was given in the remarks.
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Source: US Treasury
