U.S. Energy Secretary Predicts Hormuz Strait Reopening by Summer

U.S. Energy Secretary Wright announced on Friday that the Strait of Hormuz is expected to reopen by this summer. According to ChainCatcher, Wright stated that the U.S. is continuing to expand its natural gas exports, despite losing a daily transport capacity of 10 billion cubic feet due to the closure of the Strait of Hormuz. The U.S. has added an additional 2.5 billion cubic feet of natural gas export capacity per day. Wright emphasized that shipping through the Strait of Hormuz will resume as soon as possible, with a deadline set for this summer. He also mentioned that an agreement could be reached in the coming days. Wright warned that if Iran continues to hold the global economy hostage, the U.S. military would enforce the reopening of the Strait of Hormuz, although he acknowledged that this would not be an easy task. He noted that preliminary steps have been taken, but reaching an agreement would be preferable to using military force.