Washington, March 12 (NationPress) US Energy Secretary Chris Wright warned that energy markets might experience temporary disruptions as the ongoing conflict with Iran impacts oil shipments. However, he emphasized that the effects would likely be short-lived and that military actions would ultimately restore stability to global energy supplies.

In a series of television appearances on Fox News and News Nation, Wright stated that the United States, alongside its allies, is releasing strategic petroleum reserves while military operations aim to secure the Strait of Hormuz, a vital oil transit route.

During an interview with Chris Cuomo of News Nation, Wright expressed confidence that the economic repercussions of the conflict would be brief. He remarked, “We’ve consistently stated that the conflict will unfold over weeks, not months.”

He acknowledged that the conflict might lead to a temporary rise in energy prices, stating, “Every spokesperson from our administration has warned that energy prices will rise due to this disruption.”

Wright also dismissed claims that the US could dictate global oil prices, noting that energy markets function on an international scale. “We never claimed to control oil prices; that notion is absurd,” he said during the News Nation interview. “Fortunately, the US is currently the leading producer of natural gas globally.”

He confirmed that the government has initiated the release of oil reserves to act as a cushion against potential supply shortages. “We’ve begun utilizing the strategic petroleum reserve as intended,” Wright explained, “and we’re working to compensate for the lost oil by tapping into reserves from over 30 countries worldwide.”

In a separate discussion with Fox News host Laura Ingraham, Wright detailed a coordinated international strategy to release hundreds of millions of barrels of oil to stabilize markets while the flow through the Strait of Hormuz is interrupted. “We are set to collectively release 400 million barrels to help balance the market during this Iranian-induced restriction,” he stated.

Wright underscored that the primary aim of US policy is to diminish Iran’s capacity to threaten maritime activities in the Gulf. “The urgent priority is for the US military to reduce Iran’s power projection capabilities,” he remarked on Fox News, adding that US forces are continuously working to diminish Iran’s military threats in the Strait of Hormuz.

The administration anticipates that shipping traffic through this crucial waterway will resume once Iran's military influence is curtailed. “We hope to see a return to shipping activity in the Strait within a few weeks,” Wright stated. “The global situation will return to normal.”

Throughout the interviews, Wright vehemently criticized Iran for its role in fostering regional instability, asserting that the nation is a significant contributor to the geopolitical tensions that disrupt energy markets. “Iran is at the core of the economic difficulties in the Middle East, primarily due to the volatility in energy markets,” he declared in the News Nation interview.

He argued that diminishing Iran's military strength would ultimately lead to a stabilization of energy markets and promote investments in the region. “The world will change for the better once we overcome this situation,” Wright concluded.