US energy chief: Hormuz could reopen by summer

US Energy Secretary Chris Wright said on Friday that the Strait of Hormuz could reopen by summer's end at the latest, warning that the US military stands ready to intervene if Iran continues disrupting traffic through the strategic waterway.

Military option and diplomacy

Speaking to CNBC from an LNG terminal in Cameron, Louisiana, Wright indicated that a diplomatic agreement with Tehran could materialize within days despite strains surrounding the fragile ceasefire brokered by Islamabad on April 8 and later extended by US President Donald Trump. “If Iran continues to hold the world economy hostage, the US military will force the reopening of the Straits of Hormuz — but that's not trivial to do,” he said, adding that negotiations remain Washington's preferred option.

Domestic energy costs

Wright's comments came as the American Automobile Association reported the US national average gasoline price hit $4.53 per gallon on Friday, fueling renewed political debate over Trump's proposal to suspend the federal gas tax. The energy secretary noted that US LNG exports are increasing to help offset supply disruptions linked to the Hormuz crisis.

The waterway has been largely closed to commercial traffic since late February when hostilities between Washington, Israel and Tehran escalated into open conflict. The blockade has disrupted global oil and gas shipments, raising concerns about energy security across major Asian and European economies dependent on Gulf exports.