Washington, April 20 (IANS) Global oil prices surged sharply on Monday after the United States seized an Iranian cargo ship, raising fears of escalation and clouding prospects of a peace deal between Washington and Tehran. Brent crude rose 6.3 per cent to $96 a barrel, while US benchmark WTI climbed 7 per cent to $88.3 a barrel, according to CNN live market data.The rally followed a weekend escalation in the Gulf of Oman, where US naval forces fired on and captured an Iranian-flagged vessel that…
Latest Chris Wright News & Updates
Washington, April 16 (IANS) The United States expects the ongoing conflict involving Iran to ease within weeks, with the Energy Secretary expressing confidence that the economic impact, particularly on oil markets, will remain contained.Speaking at a Wall Street Journal policy discussion, US Energy Secretary Chris Wright said the situation would not trigger prolonged economic strain despite a temporary spike in fuel prices.“I think the conflict will be resolved in the next few weeks,” Wright…
Florida, April 11 (IANS) US Ambassador to India Sergio Gor on Saturday said that Washington and New Delhi will closely work together across key sectors, including trade, defence and energy. Taking to X following his meeting with Foreign Secretary Vikram Misri in Florida, Gor said, “It was a pleasure to host Vikram Misri tonight at Mar a Lago! From trade and defence to energy, India and the United States stand ready to work closely together in the months and years ahead.”India and the United Stat…
Washington, April 11 (IANS) India and the United States expanded cooperation on energy, critical technologies and defence during Foreign Secretary Vikram Misri’s meetings with senior US officials this week, signalling closer strategic alignment.On the final day of his hectic three-day engagements, energy cooperation featured prominently, with Misri meeting US Energy Secretary Chris Wright.The Indian Embassy in Washington said Misri “called on Energy Secretary Chris Wright. Discussions focuse…
Washington, March 14 (IANS) The United States announced up to $500 million in funding to expand domestic processing of critical minerals and strengthen the battery supply chain that supports industries ranging from defense to transportation and energy.The US Department of Energy (DOE) said the funding opportunity aims to expand critical mineral processing, battery manufacturing, and recycling capacity in the country as Washington seeks to reduce reliance on foreign supply chains for key material…
Washington, March 14 (IANS) US Vice President JD Vance defended President Donald Trump’s military action against Iran and the administration’s economic policies during remarks in North Carolina, saying the government is working to keep Americans safe while strengthening the country’s economy.Speaking in Rocky Mount, North Carolina, Vance said the Trump administration’s military operation is aimed at ensuring that Iran never develops nuclear weapons.“You all know that right now we are e…
Washington, March 13 (IANS) The world is facing a “significant disruption in the short term” to secure global energy flows in the long run, US Energy Secretary Chris Wright said, defending Washington’s decision to release oil reserves amid the war involving Iran.“We’re in the midst of a significant disruption in the short term to fix the security of energy flow for the long term,” Wright said in an interview with CNN.The United States has announced plans to release about 172 million …
Washington, March 12 (IANS) US Energy Secretary Chris Wright said energy markets could face short-term disruption as the conflict involving Iran affects oil flows, but insisted the impact would likely be temporary and that military operations would eventually stabilise global energy supplies.Speaking in separate television interviews — Fox News and News Nation — Wright on Wednesday (local time) said the United States and its partners were releasing strategic petroleum reserves while the US m…
Washington, March 12 (IANS) The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, part of a coordinated international effort by major economies to stabilise energy markets as conflict in the Middle East pushes global prices higher.The announcement came from the US Department of Energy after 32 member nations of the International Energy Agency agreed to release a combined 400 million barrels of oil and refined products from natio…
Washington, March 8 (IANS) US Energy Secretary Chris Wright said on Sunday that more than 100 million barrels of Russian crude are currently floating at sea waiting to be delivered to China, a backlog the US believes could temporarily ease global energy market disruptions if redirected to other refineries. “There’s more than 100 million barrels of floating Russian crude waiting in line to deliver to China,” Wright said in an interview with CBS News.”That’s going to be sold, it’s going to be refi…