U.S. Energy Secretary: The Strait of Hormuz will reopen at the latest this summer

Deep Tide TechFlow News. On May 17, according to the U.S. “The Hill,” U.S. Energy Secretary Wright said on Friday local time that the Strait of Hormuz would be reopened “at the latest sometime this summer.” Wright said the U.S. is “continuing to expand U.S. natural gas exports,” even though the closure of the Strait of Hormuz has led to a daily loss of 10 billion cubic feet of natural gas transportation capacity; the U.S. is still adding 2.5 billion cubic feet of natural gas export capacity every day. “Shipping through the Strait of Hormuz will resume as soon as possible, but at the latest also this summer,” Wright said, adding that the relevant agreement could be reached at the earliest “within the next few days.” Wright said that if Iran “continues to hold the global economy hostage,” the U.S. military will “forcibly reopen the Strait of Hormuz, but this is not an easy task.” “We have already taken preliminary steps, but a better way is to reach an agreement rather than use military force.”