U.S. Energy Secretary Chris Wright urged against expecting a quick settlement with Iran over shipping through the Strait of Hormuz, APA reports citing Bloomberg.
"Counting on a consensus agreement with Iran today is definitely not the best idea," Bloomberg quotes him as saying .
Wright stated that oil markets should for now rely on bypass routes, which, according to the secretary, provide approximately 10 million barrels of oil per day from the region. "Global oil markets are currently more constrained than we would like, but they are not excessively constrained," the US Energy Secretary said.
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