Bessent: Energy Prices to Drop Later This Year

0:00It's May 3rd. I'm Cory with the story, and this is U.S. News Today. National News powered by AI. Treasury Secretary Scott Besan just dropped some reassurance on energy prices. He predicts oil costs, spiking right now from the U.S. Israel conflict with Iran, will drop big time later this year, once things calm down. Prices have been climbing fast amid the tensions, hitting wallets hard at the pump and beyond. President made it clear this surge is temporary, tied straight to the ongoing war. Folks are feeling the pinch with higher gas and energy bills, sparking worries about inflation and everyday costs. Leaders like him are watching closely to ease that pressure on families and businesses. He laid this out during a Sunday spot on Fox Business Network's Sunday Morning Futures, pushing back against fears of long-term chaos. No panic needed, he says, relief is on the horizon. As the dust settles from this clash, keep an eye on those pumps, lower prices can mean smoother sailing for the economy ahead.