Photo caption: Oil pump jacks
U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz as a result of the U.S. and Israeli war with Iran.
“I would say unlikely, but we are focused on the military operation and solving a problem” Wright told CNN when asked if prices would reach $200 a barrel, a level prices could hit if the war continues to escalate, an Iranian official said on Wednesday.
Wright also told CNBC on Thursday that the U.S. Navy cannot escort ships through the Strait of Hormuz now but it was “quite likely” that could happen by the end of the month.
=== Reuters ===
