US Energy Secretary Reports Rising Oil Exports Through Strait of Hormuz Despite Regional Tensions
US Energy Secretary Chris Wright stated on June 9 that oil exports and ship traffic through the Strait of Hormuz are rising meaningfully, even as the US and Iran remain in conflict. The strait has been largely disrupted since late February strikes, blocking approximately 20% of global oil and LNG supplies. The reported increase in exports is significant because energy disruptions have driven up global prices and created political pressure on the Trump administration ahead of midterm elections.
US Energy Secretary Chris Wright announced that oil exports and vessel traffic through the Strait of Hormuz are rising meaningfully, despite ongoing tensions between Washington and Tehran that have lasted over three months. The strait experienced major disruptions following US and Israeli strikes in late February, which blocked roughly 20% of global oil and liquefied natural gas supplies. Some vessels have since resumed transit, often with transponders disabled and traveling at night. Wright noted that restoring normal flows of energy and critical materials such as sulphur, helium, and lubricants could take many months once a lasting peace agreement is reached. Global Brent oil prices fell more than 3% to $91.34 per barrel on June 9 following a mutual halt to strikes between Iran and Israel. Wright attributed the relatively modest oil price increases during the conflict partly to higher-than-expected global inventories, particularly in China, which reduced oil imports by approximately 4 million barrels per day in May.
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- The Straits TimesCenter
US energy chief says oil exports through Strait of Hormuz, Gulf ‘rising meaningfully’
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