U.S. Treasury Secretary Besant: Ample Supply Keeps WTI Crude Below $100

U.S. Treasury Secretary Besant has attributed the stability of WTI crude oil prices, which remain below $100, to the current ample supply in the market. According to Jin10, Besant noted that despite the initial surge in prices following the outbreak of the Russia-Ukraine conflict, the market has since stabilized due to sufficient supply levels. This has prevented the kind of sharp price increases seen at the conflict's onset. The ongoing balance between supply and demand continues to play a crucial role in maintaining price stability in the global oil market.