Scott Bessent: “Oil prices are already lower three months, six months, nine…”

“You think oil prices will be lower before the midterm elections? I think oil prices, we can see in the futures market that Oil prices are already lower three months, six months, nine months out [in the futures market]. But again, Maria, there are hundreds of oil tankers waiting in the Gulf to come out. The US Is only blockading Iranian ships and we will see.” (05:40–05:50)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.