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Middle East Situation | Will oil prices rise to $200? US Energy Secretary: Don't listen to Iran's predictions
U.S. Energy Secretary Chris Wright said that oil prices will fall after the Iran conflict and that Americans will continue to feel the pain of rising oil prices in the coming weeks.
Regarding the threat of $200 per barrel oil, Wright pointed out not to believe Iran’s predictions. New oil production will emerge in California, and President Trump is committed to fulfilling the promise of lowering oil prices.
Wright also said that the Iran war is causing short-term supply disruptions. The U.S. will increasingly focus on Iran’s impact on energy transportation through the Strait of Hormuz.