News Digest (www.upstreamonline.com)
US Energy Secretary Chris Wright stated that the US Navy is currently unable to guarantee safe passage for commercial shipping through the Strait of Hormuz. He indicated that naval escorts might become possible by the end of the month, but shippers of oil and liquefied natural gas must be patient in the interim.
Wright explained the delay, stating all current US military assets are focused on destroying Iran's offensive capabilities and the manufacturing industry that supplies them. This military action, described as a US-Israel war on Iran, is projected to take "weeks, not months" to conclude. The strategic goal is to destroy Iran's ability to threaten US troops, its neighbors, and global energy markets.
The Strait of Hormuz is effectively closed to shipping following regional conflict escalation, with Iran vowing to attack vessels attempting transit and several vessels being struck recently. Iran's Supreme Leader, Ayatollah Seyyed Mojtaba Khamenei, affirmed the Strait must remain closed and that Iran is prepared to expand the conflict. Analysts warn a weeks-long closure could push crude oil prices above $150 per barrel.
Wright's comments provide the first timeline from a top administration official for when escorts might begin. This follows previous mixed signals; President Donald Trump stated the Navy stood ready to escort ships "if necessary," and a social media post by Wright claiming a successful escort was later retracted as an error. The Navy has subsequently stated it remains too dangerous to attempt escorts through the narrow passage near Iran's coastline.
12 March 2026
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