Chris Wright in the news as energy chief weighing hawkish moves amid Iran war fuel shudders. Biog: US energy secretary, born 1965.
As of March 13, 2026, the Strait of Hormuz remains effectively closed due to ongoing conflict between the US, Israel, and Iran. Iranian missile and drone attacks, alongside US and Israeli strikes, have halted tanker traffic through this vital waterway, which carries about 20% of global oil. The closure has caused surging oil prices, soaring insurance costs, and widespread shipping disruptions, with major powers considering naval escorts to reopen the route.
Former President Trump oversaw a U.S. military operation targeting Iran from Mar-a-Lago, claiming the death of Iran's Supreme Leader Khamenei. The operation involved high-level officials, with Trump posting social media updates. The attack has heightened tensions with Iran, which vows retaliation.
Recent Iranian drone attacks on Qatar's gas sites and Saudi infrastructure have disrupted energy supplies, causing a surge in natural gas and oil prices. Despite a global supply surplus, geopolitical tensions threaten to prolong market volatility and impact household energy costs.
As of March 12, 2026, the US State Department has evacuated approximately 47,000 American citizens from 14 Middle Eastern countries amid escalating conflict involving Iran and Israel. The department has chartered flights and provided travel assistance, though many Americans remain stranded due to widespread airspace closures and limited commercial flights. US embassies face ongoing security threats, including drone attacks.
As of March 12, 2026, Iran has claimed responsibility for attacks disrupting oil shipments through the Strait of Hormuz, a critical route for 20% of global oil. This has driven oil prices near $100 per barrel, pushing US gas prices above $3 per gallon nationwide for the first time since 2023. The US and allies face supply constraints amid ongoing conflict and strategic reserve releases.
Tensions in the Middle East, including attacks on Qatar's LNG facilities and threats in the Strait of Hormuz, have caused a surge in global energy prices. Oil and gas markets are volatile, with prices rising sharply amid fears of prolonged disruptions, impacting global markets and supply security.
U.S. officials, including Governor Burgum, visited Venezuela to discuss resource reforms and investment. The Venezuelan interim government plans to introduce new mining laws to attract foreign companies, amid efforts to restore diplomatic ties and boost the economy, focusing on critical minerals like gold and rare earths.
As of mid-March 2026, Iran exerts selective control over the Strait of Hormuz, a vital maritime chokepoint through which 20% of global oil passes daily. Since the US-Israel strikes on February 28, multiple attacks on vessels have disrupted traffic, causing tanker flows to collapse by over 90%. Iran allows limited passage to allies via negotiated safe corridors, while many ships transit with tracking systems off. The US has deployed Marines and threatens military action if Iran mines the strait.
Since late February 2026, US-led strikes on Iran have escalated tensions, closing the Strait of Hormuz and disrupting global oil supplies. Oil prices surged above $100 per barrel, pushing US gasoline prices to $3.59 per gallon. President Trump downplays the economic impact, emphasizing the conflict's urgency, while Republicans worry about midterm election fallout amid rising fuel costs.
The US and Chile plan to meet within two weeks to discuss cooperation on critical minerals, aiming to diversify supply chains and reduce dependence on China. Chile, a major copper and lithium producer, is central to US efforts to secure resources vital for technology and energy transition.
The US has extended a temporary waiver allowing India to buy Russian oil loaded before March 5, as global energy markets face turmoil from Middle East conflicts and Strait of Hormuz closure. The move aims to stabilize prices but raises concerns over sanctions and geopolitical risks.
The United States has pledged to begin naval escorts for vessels exporting energy through the Strait of Hormuz, amid ongoing strikes on Iran and regional retaliation that have disrupted Middle East oil flows and pushed prices higher.
Since the U.S. and Israel have launched military strikes on Iran, oil prices have increased sharply, reaching over $100 per barrel. This has caused a rise in gasoline and diesel costs in the U.S., with prices expected to stay high for weeks. The conflict is disrupting global oil supplies and shipping routes, impacting economies worldwide.
Oil prices fell sharply after reaching mid-2022 highs, as US and global efforts to stabilize markets gained momentum. President Trump’s comments on war progress and potential easing of sanctions, along with Russia and Iran’s responses, have eased fears of supply disruptions. Market volatility remains high amid ongoing geopolitical tensions.
As of March 20, 2026, the US has destroyed 16 Iranian mine-laying vessels near the Strait of Hormuz amid escalating tensions over Iran's mining of this vital waterway. Iran continues to block oil passage, causing global oil price surges and regional instability. The US has deployed additional Marines and intensified airstrikes, while Iran demands US concessions to end hostilities.
Two weeks into the conflict, the US and Israel have intensified strikes on Iran, targeting military sites and its leadership. Iran responds with missile and drone attacks across the region, closing the Strait of Hormuz and causing global oil prices to surge. Iran's new leader Mojtaba Khamenei remains unseen, wounded, and under threat.
Iran's blockade of the Strait of Hormuz persists amid ongoing conflict, but recent reports indicate some non-Iranian ships, including Pakistan's Karachi, have passed with AIS signals on, suggesting limited diplomatic negotiations. The situation remains tense as Iran continues to threaten closure, impacting global oil supplies.
The US has granted a 30-day waiver allowing countries to buy Russian crude stranded at sea, aiming to stabilize energy markets. Experts warn this move benefits Moscow financially, potentially boosting its war efforts and reversing recent declines in Russian energy revenues, despite US claims of limited benefit.
California fuel costs have surged, with a Los Angeles Chevron charging $8.21 for a regular gallon amid a statewide average above $5.00. The spike comes as prices nationwide rise amid geopolitical tension, refinery issues, and climate rules. Lawmakers warn a broader statewide impact future price shocks.
The Biden administration has authorized the restart of offshore oil pipelines off California, reversing state bans amid supply concerns caused by global tensions and the war in Iran. California officials oppose the move, citing legal and environmental issues, while the federal government emphasizes energy security and military readiness.
The Trump administration ordered the restart of the Santa Ynez offshore oil pipeline in California, citing national security and supply concerns. This move, opposed by California officials, follows a 2015 spill and legal battles over environmental regulations. The restart aims to address supply disruptions caused by California's restrictions and global oil market pressures.
As of March 24, 2026, the US and Israel continue intense airstrikes against Iran, targeting military and nuclear sites. Iran rejects ceasefire talks, demanding a permanent end with guarantees. The Strait of Hormuz remains blocked, disrupting global oil supplies. President Trump signals readiness to act alone, while regional tensions and evacuations escalate.
Israel and the US have conducted extensive strikes against Iran, killing top officials and degrading military capabilities. Despite tactical successes, Iran remains in control, and regime collapse is unlikely soon. The conflict continues with ongoing regional tensions and military operations.
The conflict between the United States and Israel against Iran has intensified, with airstrikes and missile exchanges affecting oil routes and global markets. Iran has threatened responses that jeopardize shipping through the Hormuz Strait, prompting economic shocks and potential strategic realignments.
The Portsmouth Gaseous Diffusion Plant in Ohio is being transformed into the PORTS Technology Campus, featuring a 10-gigawatt data center and up to 10 gigawatts of new power generation, including natural gas. The project aims to support AI, fusion energy, and national security research, creating thousands of jobs.
On March 19-20, 2026, the US Treasury announced plans to temporarily lift sanctions on approximately 140 million barrels of Iranian oil stranded at sea. This move aims to increase global oil supply and reduce soaring prices caused by Iran's closure of the Strait of Hormuz and ongoing conflict. The waiver would allow sales mainly to markets beyond China for 10-14 days, while the US also plans additional releases from its Strategic Petroleum Reserve.
Vermont's climate superfund law, designed to fund climate adaptation projects, faces legal challenges from industry groups claiming it oversteps state authority. The law, inspired by federal legislation, aims to hold polluters accountable but is contested by the federal government and industry groups, with potential implications for other states considering similar laws.
State officials are calling for a court order to stop Sable Offshore from using a pipeline through Gaviota State Park. The pipeline has been idle since 2015 after a major spill, but the Biden administration has invoked the Defense Production Act to restart operations, citing national security and energy needs. Legal battles are intensifying as California authorities oppose the federal move, arguing it oversteps state rights. Sable has already produced over 1 million barrels and plans to increase output with new wells. The case highlights tensions between federal authority and state regulations amid ongoing energy security concerns.
President Donald Trump has said he will suspend the 18.4¢ federal gasoline tax "till it's appropriate" to ease rising pump prices; he has endorsed legislation Sen. Josh Hawley is introducing but cannot act unilaterally. Suspension would cut roughly 4% from retail prices and would reduce funds for the Highway Trust Fund.