Bessent: Oil Prices Could Fall to $40

U.S. Treasury Secretary Scott Bessent has projected a significant supply surplus in the oil market following the easing of tensions with Iran. Bessent stated that this could pull crude oil prices down to $40 per barrel. Bessent's remarks are based on expectations that global oil supply will outpace demand as geopolitical risks diminish. Analysts note that such a price decline could shift the balance in energy markets and negatively impact the revenues of producer countries. A potential drop in oil prices could ease inflationary pressures and support global economic growth. However, lower prices may also reduce investments in the energy sector, potentially increasing supply security risks in the long term. Market participants are closely monitoring whether Bessent's forecast will materialize, as oil price movements continue to influence global financial markets. This is not investment advice.

📊 BRENT — Piyasa Yorumu

▼ down · 60%

Treasury Secretary Bessent's statement that oil prices could fall to $40 has reinforced expectations of oversupply and weak demand, potentially pressuring prices in the short term. Technical indicators are sending mixed signals; RSI is neutral at 56, and MACD is positive but the signal line has not yet shown a clear upward breakout. While the price above SMA20 and SMA50 provides medium-term support, news flow and macroeconomic concerns could break this support. Therefore, a downward move is highly possible in the short term, but it may be premature to expect a definitive decline.

RSI 14

56.5

MACD

0.12

24h Δ

0.48%

📊 WTI — Piyasa Yorumu

▼ down · 60%

Treasury Secretary Bessent's statement that oil prices could fall to $40 has reinforced expectations of a supply surplus, potentially weighing on prices in the near term. Technical indicators present a mixed picture, with the RSI in neutral territory and the MACD above its signal line but still in negative territory. Prices are attempting to hold just above the 20- and 50-day moving averages, suggesting that any decline may be limited. While the direction appears downward amid uncertainties in the news flow and geopolitical risks, it may be premature to expect a strong sell-off.

RSI 14

53.6

MACD

-0.02

24h Δ

-0.21%

📊 XOM — Piyasa Yorumu

▼ down · 65%

Treasury Secretary Bessent's statement that oil prices could fall to $40 may create selling pressure on energy sector stocks. XOM shares have already lost 2.96% in the last 24 hours, with RSI at 34 approaching oversold territory. MACD is in negative territory and below the signal line, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages, making the technical outlook negative. However, the low RSI levels and the possibility that the news may already be priced in could limit the downside.

RSI 14

34.1

MACD

-0.56

24h Δ

-2.96%

📊 CVX — Piyasa Yorumu

▼ down · 65%

Treasury Secretary Bessent's statement that oil prices could fall to $40 may create selling pressure on energy sector stocks. CVX shares are already trending lower in the short term, with RSI at 44.75 indicating weak momentum. The MACD remains below the signal line, confirming a negative technical outlook. Trading below the 20-day moving average suggests sellers are in control. However, staying above the 50-day average indicates that the downside may be limited.

RSI 14

44.8

MACD

0.19

24h Δ

-0.66%

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