US energy chief signals Iran war could continue for several more weeks

US Energy Secretary Chris Wright indicated the conflict with Iran could persist for several weeks, impacting global oil and petrol prices. Wright defended the military action as necessary to eliminate Iran's threat to the Middle East and its ability to destabilize energy markets. He stated the administration aims to prevent further attacks on American soldiers and halt Iran's nuclear weapons program. Oil prices have risen, exceeding $103 per barrel, due to Iran's control over the Strait of Hormuz, a crucial passage for oil and LNG. President Trump has called on countries like China, France, Japan, South Korea, and the UK to deploy warships to ensure the Strait remains open.

Energy Secretary Chris Wright stated there are "no guarantees" oil prices will decrease in the near future. His statement is based on the continued instability in the Strait of Hormuz, a vital route for global oil tankers. Iran's recent actions, including firing projectiles and deploying mines, have made the Strait unsafe for passage. The Strait of Hormuz is a critical chokepoint for oil shipments, and disruptions there can significantly impact global oil prices. Wright's comments highlight the potential for continued high oil prices due to geopolitical tensions in the region.