United States Energy Secretary Chris Wright confirmed on Thursday that the military is “not ready” to escort tankers through the Strait of Hormuz. While oil prices briefly topped $100 following a deadly attack on two tankers off Iraq, Wright claimed existing assets remain focused elsewhere.
The delay comes despite President Donald Trump’s previous promises to secure shipping lanes and provide reinsurance for global energy companies. “It’ll happen relatively soon, but it can’t happen now. We’re simply not ready,” Wright told CNBC during a morning interview. He explained that US military assets currently prioritize the destruction of Iran’s offensive capabilities and the industry supplying their war machine.
The Secretary predicted that naval escorts would likely begin by the end of the month to stabilize the volatile region. This statement follows a retracted social media post from Tuesday, where Wright erroneously claimed that escort operations had already started.
Global Markets Face Historic Disruption
The International Energy Agency (IEA) warns that the current conflict represents the largest supply disruption in global oil market history. To counter the spike, IEA members agreed to release a record 400 million barrels of oil from their strategic reserves. The United States will provide 172 million barrels under a swap arrangement to replenish the Strategic Petroleum Reserve later.
President Trump addressed rising gasoline prices on Truth Social, framing the conflict as a necessary stand against a nuclear-armed Iran. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump posted. He added that stopping an “evil Empire” from acquiring nuclear weapons remains more important than current domestic energy costs.
To ease global pressure, the US granted India a temporary waiver to purchase Russian at-sea oil previously destined for China. Wright told CNN that this “pragmatic solution” does not constitute sanctions relief for Russia because the oil was already afloat. Meanwhile, US negotiators met with a Russian envoy in Florida for the first time since the start of the war. Russian envoy Kirill Dmitriev called the talks “productive,” suggesting that Washington now better understands the importance of Russian energy exports.
