Energy secretary says U.S. has ended Iran's ability to close Strait of Hormuz

U.S. military escorts of commercial ships have ended Iran's ability to close the Strait of Hormuz in the future, Energy Secretary Chris Wright said Wednesday. "Iran will not have the ability to close the Strait of Hormuz going forward," Wright said at a conference in New York City. "That's their key leverage and we're taking that leverage away from them." The energy secretary said 17 million barrels of oil passed through Hormuz when Iran declared the strait closed again over the weekend. U.S. naval escorts through Oman's territorial waters in the southern part of the strait prevent Iran from interdicting commercial ships, Wright said. Some 72 ships loaded with 19 million barrels of oil have passed through Hormuz in the past 24 hours, he said. Trade intelligence firm Kpler has confirmed around 4.8 million barrels per day exiting the strait since the U.S. and Iran agreed to open the sea lane last week. The U.S. could reimpose its naval blockade again if Iran does not meet Washington's demands, Wright said. The Trump administration will ensure the world is well supplied with energy, he added. Stock Chart Icon Stock chart icon WTI year to date "If we can get no deal with Iran, we will assure that the flow of energy is there, the world is well supplied and the Iranian administration will be in a world of hurt," Wright said. Wright noted that the U.S. waiving sanctions on Iranian oil sales for 60 days is not a major win for the Islamic Republic. …