Chris Wright said vessel movement through the key waterway is rising, though a full return to normal energy flows could still take months after the war ends.
By yourNEWS Media Newsroom
Energy Secretary Chris Wright said Tuesday that ship traffic through the Strait of Hormuz is increasing as Washington continues pushing for a peace deal with Tehran that would fully reopen one of the world’s most important energy corridors.
Wright made the comments during an Atlantic Council conference when asked how current traffic through the Strait compares with flows from a week or two earlier.
“I would say rising very meaningfully,” Wright said.
The Strait of Hormuz, a narrow waterway bordering Iran, has been largely blocked since U.S. and Israeli strikes on Iran in late February. The disruption has interrupted roughly 20% of global oil and liquefied natural gas supplies, creating pressure on energy markets and economies around the world.
Some vessels have resumed transit through the strait, though many have reportedly done so with transponders turned off and under cover of darkness.
Wright said the increase in ship movement does not mean energy flows will quickly return to normal. He said it could take many months after the war ends for global energy movement through the region to fully recover.
The disruption has helped drive a surge in global energy prices, creating economic pressure internationally and a political challenge for President Donald Trump and Republicans ahead of the November midterm elections.
The Trump administration has been pressing for a peace agreement with Iran that would include a full reopening of the Strait of Hormuz and a restoration of regular shipping through the waterway.
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