Industry Newsoil pricesstrait of hormuzoil production
US Energy Secretary Predicts Short-Lived Gas Spike
6.1
Relevance ScoreUS Energy Secretary Chris Wright said on Sunday that the energy disruption from the Feb. 28 US and Israeli airstrikes on Iran and Iran's closure of the Strait of Hormuz is temporary and that fuel prices could ease within weeks. He noted storage near capacity and about a 60% drop in Iraq's output, while US retail gasoline rose from $2.93 on Feb. 23 to $3.40 on Sunday.
