Treasury Secretary Bessent: Oil prices will be lower than pre-conflict levels

• Did have a call with Imans
• Oil prices will be lower than pre-conflict
• A 2000 ships are waiting to come out of the gulf, and the oil market is set to be very well supplied.
• Pres. Trump has said there are several redlines and the Strait of Hormuz has to be free and open.
• Nothing is on the table until the Strait is reopened
• Oman told him they will not toll the strait (So Trump need not bomb them).
• Believe Warsh will do the right thing to balance inflation and growth.
• US has been patient.Will continue defensive actions vs Iran
• Everything we have been done has been defensive so far.
• Patience with Iran is not forever.

Meanwhile, another report is now saying that the memorandum of understanding between Iran and the US has not been finalized nor confirmed.

This article was written by Greg Michalowski at investinglive.com.