Besent: After the end of the Iran conflict, oil prices will fall to $40 and US bond yields will decrease

US Treasury Secretary Besson said that after the end of the Iran conflict, there will be an oversupply in the oil market, and oil prices will fall back to $50 or $40. The increase in crude oil supply will drive down US bond yields. The recent US Iraq military conflict led to Brent crude oil once rising above US $95 and WTI crude oil approaching US $90. The rise in energy prices pushed up the yield of US 10-year treasury bond bonds. Besent downplayed the impact of Norway's sovereign wealth fund's plan to reduce its holdings in US Treasury bonds, stating that the fund hopes to allocate other US assets such as Fannie Mae and Freddie Mac related bonds.