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Strait of Hormuz to Reopen by Summer, U.S. Energy Secretary Says Potential Deal Within Days

GateNews

2026-05-17 03:43:44

NG0.74%

According to U.S. Energy Secretary Wright, on Friday May 15, the Strait of Hormuz will reopen “by this summer at the latest,” with a potential agreement possibly reached “within days.” The U.S. is expanding natural gas exports despite losing 10 billion cubic feet of daily transport capacity due to the strait’s closure; the country is adding 2.5 billion cubic feet of daily export capacity. Wright added that if Iran “continues to take the global economy hostage,” the U.S. military could “forcibly reopen” the waterway, though achieving this “is not an easy thing to do,” and the preferred approach remains reaching an agreement.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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