US Energy Secretary: Iran Holding World Economy Hostage via Hormuz
U.S. Energy Secretary Wright says Iran is trying to hold the world economy hostage, with 8–9 million barrels of oil moving through the Strait of Hormuz daily.
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U.S. Energy Secretary Wright said Iran is attempting to hold the world economy hostage.
He noted that 8–9 million barrels of oil transit the Strait of Hormuz daily. He added that the U.S. knows how many ships pass into and out of the strait each day.
The remarks highlight the Strait of Hormuz as a key chokepoint for global crude oil flows, with potential implications for energy markets if transit is threatened.
Source: First Squawk