U.S. Energy Secretary Chris Wright says oil and fuel traffic through the Strait of Hormuz is increasing as Washington and Tehran work to end their ongoing conflict, which has lasted more than 100 days. Speaking at an Atlantic Council event, Wright predicted that the amount of oil moving through the strait will “continue to rise,” describing the growth in shipping as “very meaningfully.” Other coverage of Wright’s remarks similarly characterizes it as a fair assessment that exports through Hormuz are increasing.
Separately, Bloomberg and the Financial Post report that Wright said roughly 7 million barrels of daily oil and fuel shipments are currently flowing through the Strait of Hormuz. He frames that level as about half of the volumes that were stranded at the start of the Iran war. The reports indicate Wright made these comments during a Bloomberg Energy Security briefing in Houston and that the restoration figures refer to the partial reopening of normal traffic levels.
Across the outlets, Wright’s core message is that Hormuz shipping disruptions have been partially reversed and that volumes are trending upward.
