US Secretary of Energy: We will witness an abundance of energy after the end of the Iran war

US Secretary of Energy Chris Wright said that after the end of the conflict with Iran, the world will witness “greater energy abundance, more affordable energy, and fewer risks to American soldiers and commerce in the Middle East.”

The minister explained in statements to NBC News that the impact of rising gasoline prices in the United States will be “short-term,” in light of expectations of a decline in prices with developments in the situation in the region.

Wright’s statements came at a time when oil prices continue to rise globally, affected by Iranian attacks on navigation in the Strait of Hormuz, the vital sea lane through which about 20 percent of global oil trade passes, amid continued attacks on shipping tankers and disruption of navigation.

When asked about the current safety of the strait for commercial navigation, Wright replied: “No, it is not safe now,” stressing that re-securing the strait and opening it again is one of the main goals of ending the conflict.

For his part, US President Donald Trump downplayed fears of rising fuel prices, and said in a phone call with NBC earlier that prices “will fall to lower levels than they were before,” noting that the abundance of oil and gas in global markets is great, but it faces “some disruption currently, and it will be resolved soon.”

This comes amid escalating tensions in the region, as the conflict continues in its third week with exchanges of strikes and Iranian threats to continue closing the strait, which exacerbates pressure on global energy markets.