HOUSTON – Roughly seven million barrels of oil are getting out of the Persian Gulf each day with US military help, US Energy Secretary Chris Wright said on June 12 at an event in Houston.
No Iranian crude is getting out of the Strait of Hormuz, Wright said, adding that he expected to see the free flow of all products through the Persian Gulf if the US and Iran agree on a peace deal. If no deal is reached, the US military will restore the flow, Wright continued.
Wright said some sanctions on Iran could be partially lifted if a deal is made.
A possible US gasoline tax holiday over the summer could help reduce prices, Wright said. REUTERS