U.S.-Israeli War on Iran Disrupt Energy Flows,
"It's many months to get back to normal flows of energy," Wright told the Atlantic Council Energy Forum in Washington, DC, cautioning that the disruption extended well beyond crude oil and natural gas to encompass exports of sulfur, helium, lubricants and other critical commodities transiting the region.
The secretary sought to temper alarm over the economic fallout, pointing to the resilience shown by modern economies under pressure. "We've seen how robust a modern economy is, that it's absorbed these blows not with no impact, but with much more modest impact than was expected," he said.
'Wildly Worth Paying'
Wright made no apologies for the energy costs generated by the conflict, framing them as a strategic investment in regional stability. The disruption would be "wildly worth paying," he argued, if it resulted in Iran no longer posing "a constant threat to its neighbors, to peace and stability, to investment in the region, and to the flow of energy."
On the supply outlook, Wright struck a notably bullish tone, pointing to production expansions across Alaska, the Gulf of Mexico, Venezuela and Guyana, alongside growth plans by US partners in the Middle East including Kuwait. "We see a very bright, well-supplied energy future in the years and decades to come," he said.
Hormuz Traffic Climbing
Wright also noted that vessel traffic through the Strait of Hormuz — one of the world's most consequential energy chokepoints, through which a significant share of global oil shipments pass — is rising "very meaningfully," offering an early signal of tentative normalisation.
The strait became the epicentre of global energy anxiety after Iran's Islamic Revolutionary Guard Corps announced its closure to most vessels in retaliation for US-Israeli strikes that began on February 28. Tehran compounded the crisis with retaliatory attacks targeting Israel and US allies across the Gulf.
A ceasefire brokered through Pakistani mediation took effect on April 8, but subsequent talks in Islamabad failed to yield a durable agreement. The truce was later extended indefinitely by President Trump without a fixed deadline — leaving the region, and global energy markets, in a state of unresolved uncertainty.
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