On Thursday, Treasury Secretary Scott Bessent faced criticism after saying he didn’t "really understand" a spike in oil prices, as Rep.
Ro Khanna (D-Calif.) blamed President Donald Trump’s war with Iran for driving energy costs higher.
Scott Bessent Questions Oil Price Spike Bessent made the remarks while discussing financial markets and the Treasury Department’s efforts to bring markets back into equilibrium.
"Anything that happens within a 24-hour period is noise," Bessent told reporters, adding that he was confident bond yields would continue declining.
"We’ve got a spike in oil prices today that I don’t really understand," he said.
