Ghalibaf tells US Treasury chief oil prices and bond yields have put him ‘on the brink’

Iranian Parliament Speaker Mohammad Bagher Ghalibaf addressed US Treasury Secretary Scott Bessent that falling oil inventories, surging prices and rising bond yields had put him “on the brink”.

Ghalibaf urged Bessent to monitor Oman crude futures prices, US government bond yields and the level of strategic oil reserves.

“Hero, use all your strength to intervene further in oil futures prices, or keep releasing oil from the reserves,” Ghalibaf said, addressing the US Treasury chief.

The remarks came after Bessent announced in August that the United States was imposing sanctions on nearly 60 entities linked to Iran, including several entities connected to the Iranian economy, as part of Washington’s efforts to “tighten the economic noose” around Tehran and threaten countries that continue to support it.

The US escalation comes as energy markets face pressure from the ongoing war on Iran and rising global oil prices, with Brent crude exceeding $95 a barrel at the beginning of September.