US energy secretary: Oil transport through Strait of Hormuz growing

US Energy Secretary Chris Wright announced at the Houston Energy Security Conference that approximately 7 million barrels of oil per day currently pass through the Strait of Hormuz, nearly half the pre-conflict volume. The US Navy has increased tanker escorts in the waterway to help restore energy exports from Persian Gulf nations.

US Energy Secretary Chris Wright announced on Saturday, 13 June, at the Energy Security Conference held in Houston that oil transport through the Strait of Hormuz has grown significantly thanks to increased escort operations by the US Navy.

Current situation in the strait

According to Wright, approximately 7 million barrels of oil and oil products per day currently pass through the strait. This represents roughly half the pre-conflict volume. Before the conflict erupted, about 20 million barrels per day moved through the Strait of Hormuz. Some shipments have been rerouted through pipelines and alternative routes, but energy markets continue to experience a notable shortage.

Navy escort operations

The Secretary emphasized that increased escort operations by the US Navy are gradually helping to restore energy exports from Persian Gulf nations. Wright added that Washington's aim is simultaneously to keep a lid on rising energy prices and to prevent Iran from acquiring nuclear weapons.

Price pressure and reserves

To stabilize fuel prices, the US administration is considering several additional measures. According to Wright, the use of strategic oil reserves is on the table. There is also discussion of a temporary suspension of the federal gasoline tax, though this would require congressional approval.

ERR.ee reported the news on 13 June, citing foreign media sources.