A series of twists and turns in the escort commitment: US Energy Secretary reiterated that the escort mission in the Strait of Hormuz may be launched by the end of this month.

U.S. Energy Secretary Chris Wright said that the U.S. Navy may begin providing escort for oil tankers crossing the Strait of Hormuz by the end of this month. Wright revealed in an interview on Thursday that currently, U.S. military forces are focused on destroying Iran's offensive capabilities and weapons manufacturing facilities, but in the coming weeks, the focus may shift to protecting shipping security. As the U.S.-led joint military action against Iran enters the second week, Wright said, "The relevant actions will be launched soon, but conditions are not yet in place, and we are not yet prepared." When asked if escorting could be initiated by the end of the month, Wright responded, "I think it is very likely." Before Wright's statement, he had posted on social media on Tuesday that the U.S. military had successfully escorted oil tankers through the Strait of Hormuz, but the post was later deleted. About 20% of the world's oil and natural gas needs to be transported through this key waterway. The White House later clarified Wright's statement, denying that any escort operations have been carried out. Since the U.S.-led joint military action against Iran on February 28, trade in the Strait of Hormuz has almost come to a standstill, and disruptions in Persian Gulf oil transport have led to a short-term 40% spike in oil prices. On Thursday, international crude oil futures prices briefly surpassed the $100 per barrel mark. The Trump administration announced on Wednesday that as part of a joint international effort to stabilize oil prices, the U.S. will release 172 million barrels of crude oil from the Strategic Petroleum Reserve. Currently, the U.S. Strategic Petroleum Reserve only has about 415 million barrels, 60% of its total capacity. Wright explained that the U.S. plans to replace the released crude oil with over 200 million barrels to be delivered in the future, as the current forward crude oil futures prices are significantly lower than current prices. He said, "This will ultimately help us replenish our strategic reserves."