Bessent Briefs Press, Outlines Trump’s Conditions for Iran | Bloomberg Businessweek Daily 5/28/2026
Speakers
Scott Bessent
— Treasury Secretary
Summary
Treasury Secretary Scott Bessent holds a press briefing covering Trump accounts, Iran deal conditions, and oil price outlook. He expects oil to fall below pre-conflict levels once the Strait of Hormuz reopens. The briefing also addresses inflation, fiscal policy, and Fed independence.
- Bessent outlines three conditions for an Iran deal: open Strait, surrender enriched uranium, no nuclear program.
- He says oil will be lower than pre-conflict levels due to well-supplied markets.
- He reiterates no central bank digital currency under Trump administration.
- He highlights Trump accounts launching July 4 with $1,000 seed investment for newborns.
- He claims the US has put the hardest sanctions on Russia.
- He had breakfast with new Fed Chair Kevin Warsh and expresses confidence in him.
- Market reaction muted; S&P and Nasdaq at records.
Trade Ideas
Oil to fall below pre-conflict levels
Bessent expects oil prices to fall below pre-conflict levels once the Strait of Hormuz reopens, citing well-supplied markets, UAE leaving OPEC, and a backlog of ships waiting to transit. He sees oil prices down about 10% in May and expects gasoline prices to follow.
Up Next
This Bloomberg Markets video, published May 28, 2026, features Scott Bessent discussing WTI. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Scott Bessent · Tickers: WTI