Strait of Hormuz oil flow ‘back towards normal’: Energy secretary
Energy Secretary Chris Wright said 67 ships crossed the waterway on Saturday as U.S. escorts helped keep oil and gas flows near normal.
- On Sunday, Energy Secretary Chris Wright said oil flows through the Strait of Hormuz are returning "back towards normal," with 67 ships transiting Saturday compared to 55 on Friday.
- Although Iranian officials recently signaled a potential closure, Vice President Vance stated Saturday there was no evidence Iran had blocked the Strait, which carries 20% of the world's oil.
- Mediated by Pakistan and Qatar, talks involving Vance are underway in Switzerland following a signed memorandum of understanding that started a 60-day clock toward a final agreement.
- Referencing the conflict in Lebanon, President Trump issued a stern warning on Truth Social, stating that if Iran does not stop its proxies, the U.S. will "hit Iran very hard again."
- Gas prices remain elevated at about $3.93 per gallon, roughly 70 cents higher than last June, according to AAA, while Wright declined to predict when costs would return to pre-war levels.
17 Articles
17 Articles
Iranian Crude Oil Exports Surge Via Hormuz as More Ships Transit
(Bloomberg) — Iran has ramped up the amount of crude oil it openly sends through the Strait of Hormuz to the highest since the war started, as shipping activity in the region picks up while Tehran and Washington work toward a lasting peace deal.
NEWS HEADLINES: Trump Administration Confirms Strait Of Hormuz Traffic Approaching ‘Normal’ Again – 100PercentFedUp.com – by Russell
After a series of stops and starts in recent days, the White House confirmed on Sunday that oil tankers are once again passing through the Strait of Hormuz as a tenuous deal remains underway to bring an end to the military operation in Iran. As The Hill reported, the latest update came from Energy Secretary Chris Wright: The Trump administration official said 67 ships went through the strait on Saturday, a slight increase from 55 on Friday as th…
US Energy Secretary Forecasts Oil, Gas Prices to Drop as Strait Traffic ‘Back to Normal’
U.S. Secretary of Energy Chris Wright on Sunday said that commercial shipping traffic through the Strait of Hormuz is “back to normal” after the United States and Iran signed a preliminary agreement to open the waterway and end hostilities. Wright further predicted that oil, gas, and energy prices will see a decline. During the conflict, Iran effectively shut down the Strait of Hormuz, a critical waterway that normally carries about a fifth of t…
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