Oil flow through Strait of Hormuz to rise, says Energy Secretary Wright

US Energy Secretary Wright confirmed that China released oil from its strategic reserve, highlighting global energy vulnerability and potential geopolitical shifts. While Wright noted that oil flow through the Strait of Hormuz is expected to rise, he warned that restoring normal energy flows will take many months. These prolonged disruptions could increase inflation, strengthen the US dollar, and impact crypto markets, although increased flow through the Strait of Hormuz may help stabilize global oil markets.