US Energy Secretary Wright Says Conflict Will End Within Weeks, Predicts Oil Supply Recovery

US Energy Secretary Chris Wright told ABC News: I think this conflict will definitely end in a few weeks; it might even end sooner than that. But this conflict will end in a few weeks, and after that we will see supply increase again and prices fall. These statements came as oil and gas prices rise in global markets. As a result of the US-Israel war with Iran, the Strait of Hormuz - through which approximately 20% of the worlds oil passes - has effectively been closed, and the United States is working to secure it.