NewzVille Desk
U.S. Energy Secretary Chris Wright said some 20 million barrels of crude oil have exited the Strait of Hormuz in the last 24 hours, as tankers continue to transit the key waterway for West Asia supply.
Shipments through the narrow waterway bordering Iran have been curtailed for months by the conflict, interrupting the flow of about one-fifth of the world’s crude oil.
Wright also said that Iran will not have the ability to close the Strait of Hormuz going forward.
“That’s their key leverage and we’re taking that leverage away from them. And that’s U.S. military escorts. That’s an ability to prevent their interdiction of ships. They do cause trouble. They are a problem. The better solution is to have an agreement with the Iranians, where they get some benefit and we get a more permanent end to their nuclear program,” he added.
