Energy Secretary Wright Says America's Energy Has 'Bright Future' -- Market Talk

Dow Jones03-23

1133 ET - U.S. Energy Secretary Wright seeks to assure the public a bright future lies ahead. "We're going through a short-term period of disruption right now, but the long term benefits will be enormous," he says. He believes Iran's grip on the Strait of Hormuz will be "dramatically reduced." Wright says it is "highly unlikely" that more crude will need to be released from strategic reserves, while assuring stockpiles will wind up higher at the end of next year. Wright acknowledges that U.S. refineries may need to become more efficient, while saying Venezuelan oil production has increased about 20% since the U.S. intervention. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

March 23, 2026 11:34 ET (15:34 GMT)

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