S&P Global Vice Chairman Daniel Yergin (L) and Energy Secretary Chris Wright shake hands before a plenary discussion at the 44th annual CERAWeek by S&P Global conference at the Americas Hilton-Houston on March 23, 2026. CERAWeek by S&P Global
HOUSTON—U.S. Energy Secretary Chris Wright said the global economic shock fostered by Iran’s de facto closure of the Strait of Hormuz and attacks on neighboring Gulf state energy infrastructure is a temporary disruption that underscores the long-term strategic value in increasing energy production, especially oil and gas.
“Things are being done” now to stem skyrocketing fuel costs that will create a more resilient supply chain once the Iran war is resolved, Wright told S&P Global Vice Chairman Daniel Yergin on March 23 during an opening session of the 44th annual CERAWeek by S&P Global conference at the Americas Hilton-Houston.
