Ghalibaf to Bessent: Watch oil futures, US bond yields and strategic reserves
Tehran - BORNA - In a post on X, Ghalibaf urged Bessent to closely watch Oman crude futures, US government bond yields and the level of the Strategic Petroleum Reserve.
“Short harder, champ. Like your career depends on it (because it does),” Ghalibaf wrote.
“Or drain below the danger zone and watch your caverns collapse (along with your career). Or pray to the salt gods of Bryan Mound.”
“The world’s already got its popcorn :)” he added.
Ghalibaf accompanied the post with a meme depicting a character running toward the edge of a cliff, with Bessent’s face superimposed on it and the caption, “You are here, cutie.”
The post comes against the backdrop of mounting pressure on several US economic and energy indicators, including long-term Treasury yields, strategic oil reserves and crude futures.
Bessent has sought to push down long-term US Treasury yields, particularly the benchmark 10-year yield, through debt-market buybacks aimed at lowering borrowing costs ahead of the midterm elections.
Markets, however, have largely resisted those efforts, with long-term yields remaining elevated or in some cases moving higher. Critics, including veteran Wall Street investor Stanley Druckenmiller, have questioned the effectiveness of such interventions.
At the same time, the Trump administration has drawn heavily on the US Strategic Petroleum Reserve amid the war with Iran and disruptions to shipping through the Strait of Hormuz.
US strategic crude reserves are stored in underground salt caverns in Texas and Louisiana, including the Bryan Mound facility. Excessive withdrawals from such sites can raise concerns over cavern integrity, well stability and the long-term condition of storage infrastructure.
Meanwhile, oil futures linked to Oman and the United Arab Emirates have recently climbed above $100 a barrel, despite US efforts to reassure markets over maritime traffic through the Strait of Hormuz.
Taken together, higher oil futures, shrinking strategic reserves and elevated Treasury yields have created a more difficult economic environment for Bessent and the Trump administration as they seek to contain the fallout from the war.
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