CNBC anchor Becky Quick swooped in to fact-check Trump White House National Economic Council Director Kevin Hassett when he claimed oil costs are predicted to drop “into the 60s” per barrel by “the fall.”
As the Iran war rages into a 3rd week, attacks on oil tankers within the Strait of Hormuz have exacerbated surging prices and roiled the inventory market.
On Tuesday’s edition of CNBC’s Squawk Box, Quick pressed Hassett on experts who say costs gained’t come down rapidly even when the battle ends rapidly, citing the West Texas Intermediate (WTI) crude futures market.
When Hassett claimed the futures confirmed costs within the 60s by “the fall,” Quick interrupted to notice it was trading north of 75 for December 2026:
CNBC ANCHOR BECKY QUICK: I simply surprise the way you’re beginning to determine this out, how you’re beginning to attempt to anticipate what that may imply for costs.