Scott Bessent & Petroleum
23 shared events · Importance 8 · Last updated May 14, 2026
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International
Scott Bessent: Scott Bessent, the U.S. Treasury Secretary, met with He Lifeng to lay groundwork for the economic proposals to be discussed by Donald Trump and Xi Jinping.
Petroleum: Petroleum is a commodity targeted for potential tariff reductions by China, which currently imposes a 10% retaliatory duty on U.S. imports.
May 13, 2026 · 6 articles
International
Scott Bessent: Scott Bessent, the US Treasury Secretary, believes the Iran war's impact is short-term volatility for long-term gain, preventing Tehran from developing nuclear weapons.
Petroleum: Petroleum prices have surged above $100 per barrel due to the Iran war and the closure of the Strait of Hormuz, leading to higher costs across multiple sectors.
Apr 08, 2026 · 307 articles
International
Scott Bessent: Scott Bessent, as US Treasury Secretary, criticized China for hoarding oil during the war, indicating US concerns about global energy market stability.
Petroleum: Petroleum has surged due to the closure of the Strait of Hormuz, reflecting the severe shock to global energy supplies. Its volatility is directly tied to developments in the conflict.
Apr 11, 2026 · 283 articles
International
Scott Bessent: Scott Bessent, US Treasury Secretary, has warned of new economic sanctions on countries doing business with Iran, aiming to inflict more economic pain on Tehran.
Petroleum: The conflict and the closure of the Strait of Hormuz have significantly impacted global petroleum supplies and prices, leading to market volatility.
Apr 08, 2026 · 702 articles
International
Scott Bessent: Scott Bessent, the US Treasury Secretary, asserted the United States' control over the Strait of Hormuz, aiming to reassure markets despite ongoing disruptions.
Petroleum: Petroleums have soared by 50% or more due to Iran's blockade of the Strait of Hormuz, with further volatility expected from the US military intervention.
May 04, 2026 · 7 articles
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