Friday March 13, 2026
Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan in the United Arab Emirates on March 11, 2026 [Altaf Qadri/AP Photo]
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The U.S. military is “not ready” to escort oil shipments through the Strait of Hormuz, Energy Secretary Chris Wright said Thursday, as Iran keeps the strategic waterway largely shut and global oil prices whipsaw.
Wright told CNBC that the market shock is a “short-term disruption,” predicting the war would last “weeks, not months.” He cast the current squeeze as “short-term pain for long-term gain,” arguing Washington is “destroying” Iran’s ability to menace energy supplies.
The remarks undercut President Donald Trump’s suggestion last week that the U.S. Navy would soon begin convoying commercial traffic in the Gulf. “We’re simply not ready,” Wright said. “All of our military assets right now are focused on destroying Iran’s offensive capabilities and the manufacturing industry that supplies their offensive capabilities.” He added, “We don’t want this to be a brush-off for a year or two. We want to permanently destroy their ability to build missiles, to build roads, to have a nuclear programme.”
The Strait of Hormuz—linking the Gulf to the Indian Ocean—is the world’s most vital oil chokepoint. Despite repeated threats from Trump, Iran has largely succeeded in shuttering the passage since the conflict erupted on Feb. 28, sending crude prices surging. A barrel of oil peaked near $120 on Sunday, up from about $70 before the war, and has yo-yoed between $80 and $100 in recent days as assurances from U.S. officials briefly calmed markets before renewed spikes.
Inside Iran, newly appointed Supreme Leader Mojtaba Khamenei, in his first public comment since being selected to succeed his assassinated father, Ali Khamenei, endorsed keeping the strait closed during hostilities. “The will of the people is to continue effective and deterrent defence,” he said in a written statement. “The tactic of closing the Strait of Hormuz must also continue to be used.”
Iran’s military has said it would “welcome” U.S. escorts for tankers, a pointed suggestion it stands ready to target American forces in the narrow channel. On Wednesday, three commercial vessels were attacked near the waterway, underscoring the risk.
Wright this week briefly claimed on social media that the U.S. Navy had escorted an oil ship through the strait, then deleted the post. The White House later confirmed the claim was untrue. It remains unclear why the statement was issued and retracted.
The U.S., one of the world’s largest oil producers, is largely self-sufficient, but shortages in Asia and Europe are reverberating through global prices. The American Automobile Association says the average U.S. gasoline price has climbed to $3.60 a gallon from $2.94 last month. Higher energy costs threaten to stoke inflation and raise the price of basic goods, including food.
Trump on Thursday argued the U.S. is benefitting from higher crude. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” he wrote on social media. “BUT, of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World.”
Iran denies seeking a nuclear weapon, and Trump had said for months before the current conflict that U.S. strikes on Iranian facilities in June had “obliterated” Tehran’s nuclear program.
As the standoff hardens, Wright’s admission that the Navy “can’t” yet convoy tankers leaves shippers and import-dependent economies exposed. With attacks near the strait mounting and Tehran signaling no change of course, oil markets appear set for more volatility until the U.S. can guarantee safe passage—or the fighting ebbs.
By Ali Musa
Axadle Times international–Monitoring.
