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US Treasury Sec Bessent: duration of Iran conflict key for oil prices and global supply

In a CNBC interview, US Treasury Secretary Scott Bessent offered fresh insight into how Washington is assessing the energy risks stemming from the escalating confrontation involving Iran and the broader Middle East.

Key Quotes

Any actions to address prices depend on duration of war.

It's very likely to assume successful completion of 301.

On the Strait of Hormuz: We believe Chinese ships have gone out

US Treasury Secretary Bessent, on oil supply: The deficit is somewhere between 10 and 14 million barrels

Putin would get even more money if oil spiked to $150

On whether they could intervene in oil markets: Have not done that.


Canada Housing Starts s.a (YoY) came in at 250.9K below forecasts (252.5K) in February

Canada Housing Starts s.a (YoY) came in at 250.9K below forecasts (252.5K) in February
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AUD/USD: RBA pricing supports resilience – BNY

BNY’s Head of Markets Macro Strategy Bob Savage notes the Australian Dollar (AUD) is entering the Reserve Bank of Australia (RBA) meeting with one of the most hawkish policy profiles in the G10, yet without a surge in inflows.
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