Bessent: "I Don't Really Understand" Oil Price Spike, As Iran War Nears 6 Month Mark - 24/7 Wall St. Live: Will Ross Crush Q2 Earnings Tonight After Its Record Q1? Bessent: "I Don't Really Understand†Oil Price Spike, As Iran War Nears 6 Month Mark By AJ Tiarsmith Published Aug 20, 5:43PM EDT Quick Read Bessent dismissed WTI crude's spike to $88 as 'noise' he can't explain, one day after Trump announced sweeping sanctions targeting Iran's oil networks. Iran's Hormuz closure cut vessel traffic from 130 to j ...