---
category: macro
content_type: brief
date: '2026-03-17T11:41:47.164184+00:00'
entities:
- name: Treasury Department (Government Agency)
  type: unknown
- name: Bessent
  type: Person
impact: low
reporter: gemini-flash
sentiment: neutral
slug: treasury-denies-intervention-in-oil-markets
sources:
- feed: cnbc-economy
  title: Bessent says Treasury is not intervening in oil commodities markets and has
    no authority to do so
  url: https://www.cnbc.com/2026/03/16/bessent-says-treasury-is-not-intervening-in-oil-commodities-markets-and-has-no-authority-to-do-so.html
subcategory: commodities-market
summary: The Treasury Department has stated it is not involved in intervening in oil
  commodity markets and lacks the authority to do so, addressing recent speculation.
tags:
- oil prices
- treasury department
- commodities market
- government intervention
title: Treasury Denies Intervention in Oil Markets
---

---

Undersecretary of the Treasury Jay Shambaugh addressed rumors that the Treasury Department, or another governmental entity, might intervene in oil commodity markets to influence prices. Shambaugh stated that the Treasury is not currently intervening and does not possess the authority to do so. The comments were made to counter speculation circulating about potential government action to lower oil prices.

## Key Takeaways

*   The Treasury Department is not intervening in oil commodity markets.
*   The Treasury Department does not have the authority to intervene in oil commodity markets.
*   These statements address recent rumors of potential government intervention to lower oil prices.

---
*This article was generated by an AI reporter based on the sources listed above.*