{"id":305302,"date":"2025-11-21T14:37:05","date_gmt":"2025-11-21T14:37:05","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/305302\/"},"modified":"2025-11-21T14:37:05","modified_gmt":"2025-11-21T14:37:05","slug":"bessent-says-oil-prices-could-drop-if-something-happens-in-venezuela","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/305302\/","title":{"rendered":"Bessent says oil prices could drop if ‘something happens’ in Venezuela"},"content":{"rendered":"

Treasury Secretary Scott Bessent<\/a> said the economy is seeing peace<\/a> dividends as a result of President Donald Trump<\/a>\u2018s peace deals, noting \u201cif something happens down in Venezuela,\u201d oil prices could lower.<\/p>\n

Bessent made the comments Thursday evening when talking about his confidence in job growth and economic momentum in an appearance on Fox News\u2019s The Ingraham Angle. <\/p>\n

\u201cThe peace deals \u2014 we are seeing a peace dividend from that. And I think there\u2019s a very good chance that if something happens with Russia, Ukraine, if something happens down in Venezuela, that we could really see oil prices go down even more,\u201d Bessent said.<\/p>\n

Bessent\u2019s remarks come as tensions<\/a> have heightened with Venezuela<\/a>, with the United States carrying out over 20 military strikes<\/a> on alleged drug-carrying boats in the Caribbean off the coast of the South American country. Bessent did not elaborate on what he meant by \u201cif something happens down in Venezuela,\u201d and the Treasury Department did not respond to the Washington Examiner\u2019s after-hours request for comment.<\/p>\n

Bessent\u2019s message of affordability<\/a> falls in line with Trump administration\u2019s renewed focus on the topic in the wake of the cost of living being a major issue in the November elections. The administration has touted its efforts to lower prices, blaming<\/a> the Biden administration for much of its economic and inflation troubles.<\/p>\n

\u201cOil and gasoline prices are down substantially under President Trump. And that is really the key to affordability, is lower energy. And energy goes into food prices,\u201d Bessent said. <\/p>\n

Though it has fluctuated throughout the year, all grade retail gas prices are generally lower on a month-to-month basis than they were in 2024, according to the Energy Information Administration. Per agency data, the average all-grade, all-formulation retail gas price in October 2025 was $3.19, which is less than the $3.26 average in October 2024.<\/p>\n

But voters are still worried about the cost of living and the state of inflation in 2025, a Fox News poll<\/a> found, leaving Vice President JD Vance asking the nation for \u201cpatience<\/a>\u201d when it comes to economic windfalls hitting their pockets.<\/p>\n

TRUMP TELLS SCOTT BESSENT \u2018I\u2019M GOING TO FIRE YOUR ASS\u2019 IF HE DOESN\u2019T GET FED \u2018FIXED FAST\u2019<\/a><\/p>\n

Bessent says he\u2019s \u201cvery confident about job growth and the momentum that we\u2019ve got for next year.\u201d<\/p>\n

\u201cI think what it is going to take is for people to see what the President has done. I keep saying, peace deals, trade deals, and tax deals. So we did the One Big, Beautiful Bill in July, and we are seeing a cap-ex boom thanks to that. Historically, capital expenditure is always followed by job growth,\u201d Bessent said.<\/p>\n","protected":false},"excerpt":{"rendered":"Treasury Secretary Scott Bessent said the economy is seeing peace dividends as a result of President Donald Trump\u2018s…\n","protected":false},"author":2,"featured_media":305303,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,29429,2402,60417,4666,18232],"class_list":["post-305302","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-gas-prices","tag-inflation","tag-peace","tag-scott-bessent","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/305302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=305302"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/305302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/305303"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=305302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=305302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=305302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}