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Wright calls Iran's action around the Strait of Hormuz a temporary 'bump' and points to U.S. naval escorts

CNBC Power Lunch interview · May 15, 2026
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Summary

Energy Secretary Chris Wright said disruptions linked to Iran at the Strait of Hormuz are temporary if diplomatic or economic pressure succeeds; he described U.S. naval escorts and said the world wants the Persian Gulf reopened to normal traffic.

Speaking on site at Golden Pass, Energy Secretary Chris Wright described recent disruptions tied to Iran in the Strait of Hormuz as a problem that could be resolved "relatively rapidly" with an agreement, and said the United States had taken steps to protect shipments.

"We sent 3, United States Navy destroyers through it. We escorted some tankers out," Wright said, describing U.S. actions to ensure the free flow of traffic. He added that pressure on Iran — including economic measures and global diplomatic resistance — would likely compel the Iranian regime to back off.

Wright characterized Iran's moves as a temporary attempt to "hold the whole world hostage" and said reopening Persian Gulf routes is in the interest of global prosperity. He also noted that China remains a major buyer of Gulf oil even as nations explore alternative pipelines and routes to reduce reliance on the Strait of Hormuz.

Wright said the administration prefers diplomatic and economic pressure and expects, in time, alternative infrastructure — additional pipelines and export routes — to reduce the strategic primacy of the Strait, while cautioning that Gulf producers will remain key suppliers to the world.