US EditionEnergy secretary says "period of elevated energy prices" will be temporary
Energy Secretary Chris Wright said the oil price surge from the Iran conflict is short-lived, citing ample global supplies and strategic reserves to stabilize markets.
- Energy Secretary Chris Wright told CBS's Face the Nation on Sunday that "We have a temporary period of elevated energy prices, but it will not be long," adding the worst case is weeks, not months.
- Escalation in the Strait of Hormuz has dramatically reduced shipments, with tanker transit near a standstill and only Iran-linked tankers crossing in the past 24 hours, heightening market concerns.
- Available stockpiles and export capacity indicate the world is well supplied with no energy shortage in the Western Hemisphere, with over 400 million SPR barrels and refineries in Europe and Asia facing logistical interruptions alongside over 100 million barrels of Russia's floating crude.
- The Trump administration announced a $20 billion reinsurance program and proposed U.S. Navy escorts, while Wright said the Strategic Petroleum Reserve could be used if needed.
- Framing it as strategic, Wright argued the campaign will 'bring in an era of even lower energy prices' once Iran is defanged, reducing threats to the U.S. and region.
61 Articles
61 Articles
Energy secretary on U.S.-Iran conflict, American oil reserve and more
EDITOR'S NOTE: Mojtaba Khamenei has been named as his father's successor. Read more about it HERE. (CBS, KYMA) - Energy Secretary Chris Wright spoke with Margaret Brennan on Face the Nation Sunday about the ongoing conflict between the U.S. and Iran. According to Brennan, 50,000 U.S. troops have been deployed, and seven Americans have been killed in action, as of Monday. In addition, a CBS News polls says 56% of Americans disapprove the war with…
Energy secretary on rising gas prices: ‘This is not a months thing’
Energy Secretary Chris Wright on Sunday said the spike in gas prices will not stick, arguing rising prices resulting from the war in Iran will not last for months. “Look, you never know exactly the time frame of this, but, in the worst case, this is a weeks, this is not a months thing,” Wright…
Iran intensifies ‘reprehensible aggression’, hits Gulf energy sites; Riyadh warns Tehran will be biggest loser
Iran escalates tensions in the Gulf with missile and drone attacks on energy sites, prompting Bahrain to declare force majeure. The strikes have disrupted regional energy markets and heightened fears of wider conflict.
Energy Secretary Dismisses ‘Fiction’ About Energy Shortages
by Harold Hutchison at CDN - Secretary of Energy Chris Wright called the American conflict with Iran “a disruption” on the path to lower energy costs on “Fox News Sunday.” Tankers stopped transiting the Strait of Hormuz, a narrow waterway which separates the Persian Gulf and the Gulf of Oman, after Iran launched missile and drone strikes in retaliation for those … Click to read the rest HERE-> Energy Secretary Dismisses ‘Fiction’ About Energy Sh…
Stock markets in Europe and Asia are in the red due to ever-rising energy prices.
The Iran war has driven the oil price to the highest level since the summer of 2022. US President Trump appeases: This is a low price for the peace of the world. Nevertheless, the stock exchanges are going down.
Coverage Details
Bias Distribution
- 68% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
