Energy Secretary Chris Wright says Iran war-driven fuel price spike should ease within weeks and U.S. is not targeting Iran’s energy sector
The Facts
- U.S. Energy Secretary Chris Wright said the rise in energy prices should be short-lived, describing it as lasting weeks rather than months in a worst-case scenario.
- Wright said the United States has no plans to target Iran’s energy industry or energy infrastructure.
- Wright attributed the oil price surge in part to a market “fear premium,” saying the world is not short of oil or natural gas.
- Wright made these comments during Sunday television appearances including CNN’s "State of the Union."
- The conflict has disrupted tanker traffic/shipping through the Strait of Hormuz, which is a key route for global energy shipments.
- Wright said on Fox News that a large tanker had already passed through the Strait of Hormuz without issues and that energy would flow soon.
Context
What timeline did Wright give for energy prices to come back down?
Wright said that even in a worst-case scenario, the disruption and elevated prices would be measured in weeks, not months. Guardian Yahoo! Finance CBS News
Did Wright say the U.S. would strike Iran’s oil and gas facilities?
No. Wright said the U.S. is not targeting Iran’s energy infrastructure and has no plans to target Iran’s oil or natural gas industry. Guardian TimesNow Economic Times
Why did Wright say oil prices jumped if there isn’t a supply shortage?
Wright said the surge reflects a “fear premium” driven by uncertainty around the conflict and disruptions to shipping, while maintaining that global oil and natural gas supplies are sufficient. Investing.com Yahoo! Finance Axios
The receipts — all 66 sources
Wire services (1)
APInternational Business Times, Singapore EditionUS Asks India To Take 100 Million Barrels Of Russian Oil Bou...
Independent coverage (50)
Brigitte GabrielOil prices near $120 a barrel as Trump calls it 'small price...
CBS NewsLive Updates: Fear U.S.-Israeli war with Iran will drag on s...
VGT TVMiddle East crisis pushes oil prices soar, US "reveals" the ...
No2NuclearPowerEnergy Costs - No2NuclearPower
Washington ExaminerOil prices near $120 a barrel as Trump calls it 'small price...
DT NewsUS says it will not hit Iran energy sector | THE DAILY TRIBU...
Oriental News NigeriaU.S Says Oil Price Surge Temporary, Confirms Glut In Supply ...
Business Insider AfricaOil passes $100 a barrel as US energy secretary says Iran wo...
International Business Times, India EditionIndia processing Russian oil is pragmatic decision: US
Mangalorean.comIndia processing Russian oil is pragmatic decision: US - Man...
DevdiscourseUS Urges India to Redirect Russian Oil From Sea to Refinerie...
Internewscast JournalKaroline Leavitt Acknowledges Iran Bombing's Immediate Impac...
Social News XYZIndia processing Russian oil is pragmatic decision: US
Zee NewsIndia to take 100 million barrels of Russian oil waiting for...
Malay MailUS rules out strikes on Iran's energy infrastructure despite...
thesun.myUS vows to spare Iran's energy sector in Israel conflict
CNAUS says it will not hit Iran energy sector
TimesNow'These Are Israeli Strikes': US Says It Is Not Targeting Ira...
Daily Mail OnlineLeavitt admits Iran strikes causing 'short-term disruption'
DNyuzMAGA Goon Gives Bonkers 'Fear' Excuse for Rocketing Oil Pric...
see.newsUS Says Oil Prices Could Fall if Iran's Ability to Disrupt H...
The Daily BeastMAGA Goon Gives Bonkers 'Fear' Excuse for Rocketing Oil Pric...
World OilU.S. Energy Secretary says oil price spike driven by 'fear p...
Internewscast JournalEnergy Secretary Predicts Gas Prices to Drop Below $3 Amidst...
Zero HedgeUS Energy Chief Says Oil 'Fear Premium' Over Iran Is Tempora...
Pravda EN"It's all Israel": The United States disavowed attacks on Ir...
RedstateEnergy Secretary Chris Wright Has Good News for People Conce...
Business InsiderThe US secretary of energy says Iran is not a war but a 'tem...
NEWS.amEnergy Secretary: US has no plans to strike Iran's oil indus...
CBS NewsEnergy secretary says "period of elevated energy prices" wil...
news.bloomberglaw.comUS Energy Chief Says 'Fear Premium' in Oil Markets Will Ebb ...
newKerala.comRussian Oil Backlog for China Could Ease Global Market: US
TASSUS doesn't target Iran's oil, gas infrastructure -- Energy...
The Free Press - Tampa'Break A Little News Here': Wright Claims First Tanker Clear...
LatestLYUS Asks India to Purchase Stranded Russian Oil Cargoes to St...
ProthomaloUS says it will not hit Iran energy sector
WION'We will not target Iran's energy sector infrastructure': US...
Social News XYZIndia to take 100 million barrels of Russian oil waiting for...
The Daily Caller'A Disruption On The Way To A Much Better Place': Energy Sec...
dailycallernewsfoundation.org'A Disruption On The Way To A Much Better Place': Energy Sec...
New York PostGas will be below $3 soon, Energy Secretary Wright says, as ...
The Grand Junction Daily SentinelUS says it will not hit Iran energy sector
Mountain DemocratUS says it will not hit Iran energy sector
The GuardianUS energy chief says spike in gas prices will fall 'before t...
Social News XYZ100 mn barrels of Russian oil waiting for China: US
newKerala.comUS Asked India to Buy Russian Oil to Avoid China, Says Offic...
Middle East EyeUS says it will not attack Iran's energy sector
TASSUS sticks to its policy of anti-Russian sanctions, despite e...
Ya LibnanLive Updates: Iran to name new supreme leader as Israel thre...
AxiosTrump's energy chief blames oil price spike on market fear
Facts first. Then every angle.
The day’s biggest stories in one short brief — the facts everyone agrees on, then the competing values behind the headlines. Free in your inbox.