Summary
- U.S. Energy Secretary Chris Wright said energy prices are likely to rise until vessel traffic through the Strait of Hormuz resumes at a meaningful level.
- Wright said shipping through the waterway could return to normal within the next few weeks.
- Rising tensions in the Middle East disrupted maritime transport and increased volatility in crude oil prices and broader energy prices.
Forecast Trend Report by Period
U.S. energy prices may keep rising until shipping through the Strait of Hormuz returns to normal, the U.S. government said.
Walter Bloomberg reported on June 13 that Energy Secretary Chris Wright said prices are likely to climb until vessel traffic through the strait resumes at a meaningful level.
Wright added that normal shipping operations could be restored within the next few weeks.
The remarks came as rising tensions in the Middle East disrupted maritime transport and increased volatility in energy markets, including international crude oil prices.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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