Anonymous19 days ago
Energy Secretary Chris Wright acknowledged on March 15 that there are "no guarantees" oil prices will fall soon, even as the administration promises the Iran war will end "in a few weeks" and gas prices could drop below $3 by summer. With WTI crude surging from $67 to over $100 per barrel since the February 28 strikes, the Strait of Hormuz effectively shut down, and the U.S. Navy unable to escort tankers for weeks, the largest oil supply disruption in history is threatening a global recession while fueling bipartisan political anxiety ahead of the 2026 midterms.