U.S. Energy Secretary Chris Wright Warns Against Hormuz Deal Optimism, Iran to Propose Temporary Shipping Lane on Monday
U.S. Energy Secretary Chris Wright warned traders against expecting a quick Strait of Hormuz breakthrough with Iran, noting that alternative routes are currently supplying about 10 million barrels a day, keeping oil markets tight but manageable. Iran plans to propose a temporary shipping lane in Oman on Monday. Wright also reiterated Washington's preference for negotiations over Iran’s nuclear program but affirmed its readiness to use military force.
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