Skip to playerSkip to main content
  • 17 hours ago
Oil prices are expected to peak once shipping through the Strait of Hormuz resumes, as blockades linked to the Iran conflict disrupt global supply and keep prices elevated, according to the U.S. energy secretary.
Transcript
00:00All prices are expected to peak in the next few weeks once ship traffic through the Strait of Humus resumes.
00:08According to U.S. Energy Secretary Chris Wright, said prices will remain high and could continue rising until meaningful shipping
00:16activity returns to the key all-transit route.
00:19The Strait has been largely blocked since late February amid conflict involving Iran and U.S. military countermeasures.
00:26U.S. President Donald Trump warned that high oil and gasoline prices could persist until November's midterm elections.
00:34Ship tracking data showed vessels turning back as they blockade to effect, highlighting ongoing risk to global supply.
00:42Meanwhile, Venezuela's oil output has risen by 25 percent, with 150 million barrels sold since January following production reforms and
00:51expanded foreign involvement.
00:56manchmal algunas piernas were projected at 24 percent, with 4 percent of the Jupiter้˜ calle who started to be departed
00:57since 2016,
Comments

Recommended