The United States has confirmed it will avoid targeting Iran’s energy infrastructure despite tensions in the region and rising global oil prices, Energy Secretary Chris Wright stated yesterday.
Speaking to CNN, Wright emphasized that while recent disruptions to Iran’s petroleum and gas sector may cause temporary issues, any impact would be short-lived—lasting a few weeks at most, not months.
Israel recently conducted airstrikes on oil storage facilities in and around Tehran, igniting massive fires—the first such attacks since the conflict began last weekend. Wright sought to downplay the severity of the strikes, describing them as localized actions.
“These are Israeli strikes on local fuel depots, meant to fill up the gas tank,” he explained. “The US is targeting zero energy infrastructure. There are no plans to target Iran’s oil or natural gas industries, or any part of their energy sector.”
The ongoing conflict has severely disrupted the Strait of Hormuz, a crucial maritime corridor through which nearly 20% of the world’s crude oil and liquefied natural gas flows. The resulting uncertainty has sent oil prices skyrocketing. West Texas Intermediate, the US benchmark, surged 12% in a single day and 36% over the week.
Despite the spike, Wright reassured the public that oil markets remain well-supplied. “There’s no energy shortage in the Western hemisphere,” he told CBS.
At the same time, US consumers are feeling the pinch. Gasoline prices have jumped 16% in a week, while diesel has risen 22%, reaching levels not seen since February 2023, according to GasBuddy. This comes as Americans head toward the midterm elections, where rising fuel costs could weigh heavily on voter sentiment.
“This is not a long-term war,” Wright said. “What you’re seeing are emotional reactions and fear of a protracted conflict.”
The US is now engaging with shipping companies to ensure vessels can safely transit the Gulf. Early shipments may require direct military protection, but Wright expects normal traffic to resume relatively soon.
Iran contributes roughly 4% of global oil production, with much of its output affected by international sanctions. Some exports still reach countries like China.
Meanwhile, the US is also considering adjustments to global oil supply. Treasury Secretary Scott Bessent said the government might lift sanctions on additional Russian oil, following a recent temporary authorization allowing India to import from Moscow. The US International Development Finance Corporation is establishing a $20 billion reinsurance mechanism to mitigate risks associated with shipping through the Strait of Hormuz.
In a world increasingly sensitive to fuel prices and energy security, Wright’s reassurance highlights a careful balance: keeping global energy markets stable while navigating escalating tensions.
