The U.S. military is helping move more than 7 million barrels of oil per day out of the Persian Gulf amid tensions with Iran and as the standstill in shipping traffic through the Strait of Hormuz continues, U.S. Energy Secretary Chris Wright said on Friday.
Wright said during a Bloomberg News interview that Iran’s only leverage in negotiations is “to interrupt the flow of energy out of the Persian Gulf” during hostilities with the United States.
However, Wright announced there was a “military effort that we’ve not talked a lot about” that started “recently” to remove oil cargoes of the Persian Gulf. As of Friday, a “rough average” of 7 million barrels of oil is now exiting the Gulf region with the assistance of the military, he said….