Bessent says Treasury is not intervening in oil commodities markets and has no authority to do so

Petrol

Treasury Secretary Scott Bessent said Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted. In a CNBC interview, Bessent addressed rumors that the Treasury Department or some other arm of government might step in to try to lower oil prices. While presidents, including Trump, have authorized releases or exchange loans from the Strategic Petroleum Reserve at times of stress in the energy sector, stepping into

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