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U.S. Energy Secretary Wright: Strait of Hormuz Will Reopen by Summer at Latest

GateNews
Commodities
NG1.53%

According to The Hill, U.S. Energy Secretary Wright stated on Friday that the Strait of Hormuz will “reopen by summer at the latest.” Despite losing 10 billion cubic feet per day of natural gas transport capacity due to the strait’s closure, the U.S. is adding 2.5 billion cubic feet daily in export capability. Wright indicated that shipping through the strait will resume “as soon as possible, but certainly by summer,” and suggested a related agreement could be reached “within days.”

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