US Energy Secretary says ship traffic through Strait of Hormuz rising 'very meaningfully'
- Vessel movements on Strait have largely been blocked since US, Israeli strikes on Iran in late February
U.S. Energy Secretary Chris Wright reports a "very meaningful" increase in ship traffic through the Strait of Hormuz, despite the ongoing conflict, following earlier disruptions that impacted global energy supplies.
- Earlier blockades' impact on global energy supplies.
- Surging global energy prices and economic disruptions.
- Political vulnerability for the U.S. President.
WASHINGTON: U.S. Energy Secretary Chris Wright said on Tuesday that ship traffic through the Strait of Hormuz is rising “very meaningfully” as the conflict with Iran continues.
“I would say rising very meaningfully,” Wright said when asked how ship traffic is flowing through the Strait compared to a week or two ago.
Wright made the remarks during an Atlantic Council conference and added that it would take many months to get back to normal flows of energy once the war is over.
Vessel movements on the strait have been largely blocked since U.S. and Israeli strikes on Iran in late February, interrupting around 20% of global oil and liquefied natural gas supplies. But some vessels have since begun transiting the narrow waterway bordering Iran, often with transponders turned off and under cover of darkness.
Disruptions to normal flows have triggered a surge in global energy prices, upending economies around the world and creating a political vulnerability for U.S. President Donald Trump and his Republican party ahead of midterm elections in November.
Washington has been pressing for a peace deal with Tehran that would include a full reopening of the strait.
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