The US said it will increase attacks in the next few days to destroy Iran's oil tanker attack capability in the Strait of Hormuz, with the aim of restoring energy circulation and reducing pressure on gasoline prices.
US Energy Secretary Chris Wright in an interview with Fox News on March 8 (US time) said Washington is gradually destroying Iranian missile and drone units in this area. According to him, military operations will be strengthened in the near future.
Mr. Chris Wright said that the US is weakening Iran's offensive capabilities and will act cautiously to bring oil, gas, fertilizer and many commodities from the Gulf back to normal soon through the Strait of Hormuz.
Tensions escalated as the Iranian army and the Islamic Revolutionary Guard announced the closure of the Strait of Hormuz in response to attacks from the US and Israel. Iranian forces used missiles and drones to attack ships passing through the area.
These attacks made it impossible for most transport ships to move through the Strait of Hormuz to deliver oil from Gulf countries to the world market. About 20% of global energy supplies pass through this sea route, causing rapid disruptions that pushed oil and gasoline prices up sharply.
According to data from GasBuddy, the average gasoline price in the US has increased to more than 3.46 USD per gallon. When the market opened at the beginning of the week, the prices of two key crude oils in the world both exceeded the 100 USD per barrel mark. Brent oil increased by 25% to 116.3 USD, while US WTI oil increased by 28% to 116.4 USD.
Mr. Chris Wright said a large oil tanker passed through the Strait of Hormuz without any problems, although he did not elaborate. Under normal conditions, about 100 oil tankers and cargo ships move through this area every day.
According to him, the disruption in the Strait of Hormuz may last for several weeks but is unlikely to last for many months. When Iran is no longer able to threaten ships, trade and investment will be more favorable, while reducing the risk of energy shortages.
However, the task of clearing the Strait of Hormuz is assessed as not easy. Iran has the ability to produce thousands of suicide drones each month and can launch them from many different locations to attack ships, making it difficult for the US and its allies to detect and intercept.
War related to Iran broke out on February 28 and has not shown signs of cooling down to date. The fighting has killed more than 1,500 people and damaged many oil and energy infrastructures in the Middle East.
