{"id":123658,"date":"2026-03-09T08:34:27","date_gmt":"2026-03-09T12:34:27","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/tankers-to-resume-normal-movement-in-middle-east-in-a-few-weeks-at-worst-energy-sec-says-ending-oil-surge-123658"},"modified":"2026-03-09T08:34:27","modified_gmt":"2026-03-09T12:34:27","slug":"tankers-to-resume-normal-movement-in-middle-east-in-a-few-weeks-at-worst-energy-sec-says-ending-oil-surge","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/tankers-to-resume-normal-movement-in-middle-east-in-a-few-weeks-at-worst-energy-sec-says-ending-oil-surge-123658","title":{"rendered":"Tankers to resume normal movement in Middle East in ‘a few weeks’ at worst, energy sec says, ending oil surge"},"content":{"rendered":"
\n

The price of oil shot up amid the Trump administration’s targeting of Iran due to a “fear premium in the marketplace,” but Iran-forced oil inflation<\/a> is “finally going to come to an end,” according to Energy Secretary Chris Wright, when vessels resume normal movement.<\/p>\n

“We’re not too long away, I think, before you will see more regular resumption of ship traffic through the Straits<\/a> of Hormuz,” Wright told CNN’s “State of the Union” on Sunday. “Yes, we’re nowhere near normal traffic right now. And that’ll take some time. But, again, worst case, that’s a few weeks. That’s not months.”<\/p>\n

“The world is very well supplied with oil right now,” Wright said. “The United States is a net oil exporter<\/a>. We’re a net natural gas exporter. We are suffering high prices, not in natural gas, but in oil, because it’s a globally connected market.<\/p>\n

Oil prices surged to their highest levels since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions<\/a> gripped the market due to the expanding U.S.-Israeli war with Iran. Nevertheless, Wright remains optimistic that this is just a temporary setback.<\/p>\n

TRUMP ADMIN RAMPS UP ‘MAXIMUM PRESSURE’ IRAN SANCTIONS AHEAD OF NEW ROUND OF NUCLEAR TALKS<\/strong><\/a><\/p>\n

“We’re communicating with our allies abroad. The oil is there,” he added “You’re seeing a little bit of fear premium in the marketplace. But the world is not short of oil today or natural gas.”<\/p>\n

Wright maintained that the Trump administration is “all in on lowering energy prices<\/a>, and I would say quite successfully,” pointing to overall decreases in gas prices.<\/p>\n

GOP SENATORS SAYS TRUMP’S STRIKES ‘SIGNIFICANTLY DEGRADED’ IRAN BUT EMPHASIZE ATTACKS NOT ‘FOREVER WARS’<\/strong><\/a><\/p>\n

“Gasoline today is still $1.50 a gallon cheaper than it was in the middle of the Biden administration,” he noted. “But you’re right. We want it back below $3 a gallon. And it will be again before too long.”<\/p>\n

Wright stressed again that “this is a weeks, this is not a months thing.”<\/p>\n

The secretary emphasized the importance of conducting the military campaign against Iran, despite the current impact on oil prices.<\/p>\n

“It is simply unacceptable for the United States, for the Middle East geography and for the world economy to have a terrorist regime with nuclear weapons and a gigantic missile arsenal<\/a>,” Wright concluded.<\/p>\n

“They have raised energy prices for Americans for decades. It’s finally going to come to an end.”<\/p>\n

Reuters contributed to this report.<\/i><\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/us\/tankers-resume-normal-movement-middle-east-few-weeks-worst-energy-sec-says-ending-oil-surge <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The price of oil shot up amid the Trump administration’s targeting of Iran due to a “fear premium in the marketplace,” but Iran-forced oil inflation […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-123658","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nTankers to resume normal movement in Middle East in 'a few weeks' at worst, energy sec says, ending oil surge - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/tankers-to-resume-normal-movement-in-middle-east-in-a-few-weeks-at-worst-energy-sec-says-ending-oil-surge-123658\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tankers to resume normal movement in Middle East in 'a few weeks' at worst, energy sec says, ending oil surge - 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