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Oil unlikely to hit $200 a barrel, US energy chief says
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Oil unlikely to hit $200 a barrel, US energy chief says
Mar 12, 2026 5:29 AM

WASHINGTON, March 12 (Reuters) - U.S. Energy Secretary

Chris Wright said on Thursday global oil prices are unlikely to

hit $200 a barrel even as crude tankers remained stalled in the

Strait of Hormuz as a result of the U.S. and Israeli war with

Iran.

"I would say unlikely, but we are focused on the military

operation and solving a problem" Wright told CNN when asked if

prices would reach $200 a barrel, a level prices could hit if

the war continues to escalate, an Iranian official said on

Wednesday.

Wright also told CNBC on Thursday that the U.S. Navy cannot

escort ships through the Strait of Hormuz now but it was "quite

likely" that could happen by the end of the month.

(Reporting by Susan Heavey Timothy Gardner and Katharine

Jackson; Editing by Sharon Singleton and Michelle Nichols )

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