Treasury Secretary Scott Bessent said over the weekend that the Iran conflict will determine whether oil prices fall before the end of 2026, as gas prices have risen during the war. In an NBC News interview, he said core inflation is down, food prices are below the Fed's targets, prescription drug prices have seen the biggest decrease in history, and rents are down, describing the situation as an energy shock that will reverse once the conflict ends. Former Trump White House economic adviser Steve Moore expects inflation to stay around 3.5%, above the Fed's 2% target, and said oil prices staying between $90 and $100 a barrel are one of the biggest obstacles to lowering inflation.
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Related tickers and likely impact
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/19/2026 | 4,133.66 |
| Change that session | -1.08% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/19/2026 | 4,134.00 |
| Change that session | -1.05% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/19/2026 | 766.48 |
| Change that session | +0.42% |
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Related news
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Treasury Secretary Scott Bessent told NBC News that whether oil prices fall before the end of 2026 will depend on the Iran conflict. He said core inflation is down, food prices are below the Fed's targets, prescription drug and rent prices have fallen, and the current energy shock should ease once the conflict ends. Gas prices have been rising due to the ongoing war in Iran. Former Trump White House economic adviser Steve Moore expects inflation to stay around 3.5%, above the Fed's target of 2% or lower, and said energy prices are the biggest obstacle to lowering inflation while oil remains between $90 and $100 a barrel.
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