Iran Conflict: US Avoids Energy Targets & Oil Price Impact

Washington D.C. – Energy prices are expected to decline as the United States takes action to neutralize Iran’s capacity to disrupt shipping in the Strait of Hormuz, according to U.S. Energy Secretary Chris Wright. The assessment comes amid heightened global anxieties over potential supply disruptions following recent escalations in tensions between the two countries.

Speaking to CNN on Sunday, March 9, 2026, Wright stated that the U.S. Military is specifically avoiding attacks on Iranian oil and gas infrastructure. The U.S. Military is not attacking any oil or gas facilities in Iran, he said. This policy, he indicated, is intended to prevent further exacerbation of the energy crisis. He also addressed a reported Israeli strike on oil depots near Tehran, characterizing the targeted facilities as local fuel storage for topping up gasoline tanks.

The comments followed a period of significant volatility in global oil markets. Oil prices had surged in recent days, reaching their highest levels in nearly two years, fueled by concerns over the potential closure of the Strait of Hormuz – a critical waterway for global energy transport, handling approximately one-fifth of the world’s oil and liquefied natural gas. At Friday’s close of trading, Brent crude reached $92.69 a barrel, an eight percent increase from the previous day and a 27.88 percent jump from the week prior. West Texas Intermediate (WTI) crude saw an even more dramatic rise, increasing by more than twelve percent on Friday and 36 percent over the course of the week.

The de facto closure of the Strait of Hormuz, currently under the control of the Iranian military, has been a central concern for international energy markets. Wright, however, sought to reassure markets that the impact of the conflict would be temporary. The effects of the Iran war will be temporary – in the worst case, a few weeks, but not months, he stated. He further emphasized that global energy supplies remain robust, stating to CBS that there is no energy shortage in the entire western hemisphere and that the price increases were largely driven by emotional reactions and the fear that We see a long-lasting war. He reiterated his belief that this is not a long-lasting war.

The surge in fuel prices is already being felt by consumers. According to the U.S. Auto insurer AAA, gasoline prices in the United States rose by 16 percent within a week, while diesel prices increased by 22 percent. This spike in energy costs raises concerns about its potential impact on the upcoming U.S. Midterm elections in November. Prior to the outbreak of hostilities with Iran, President Donald Trump’s approval ratings were already experiencing a decline.

Wright’s statements suggest a calculated U.S. Strategy focused on containing the conflict and preventing widespread disruption to global energy supplies. By explicitly stating that U.S. Forces are not targeting Iranian energy infrastructure, Washington appears to be attempting to signal its intent to avoid escalating the conflict into a broader regional crisis. However, the situation remains fluid and dependent on Iran’s actions in the Strait of Hormuz and its broader response to U.S. And allied military pressure.

The geopolitical implications of the situation extend far beyond the immediate conflict zone. The Strait of Hormuz is a vital chokepoint for energy supplies to major economies in Asia, Europe, and North America. Any prolonged disruption to shipping through the strait could have severe consequences for global economic growth. The potential for miscalculation and escalation remains high, particularly given the involvement of multiple actors, including Israel, and the complex web of regional alliances and rivalries.

The U.S. Energy Secretary’s assessment that energy prices will not rise significantly beyond current levels hinges on the assumption that the conflict remains contained and that alternative energy sources can offset any potential supply disruptions. However, the duration and intensity of the conflict, as well as the response of other oil-producing nations, will ultimately determine the trajectory of energy prices in the coming weeks and months. The situation is being closely monitored by international organizations and governments worldwide, as they seek to mitigate the economic and geopolitical risks associated with the escalating tensions in the Middle East.

The focus on protecting energy infrastructure, as highlighted by Wright, underscores the strategic importance of maintaining stable energy supplies during times of geopolitical instability. This approach reflects a broader understanding that energy security is a critical component of national security and global economic stability. The coming days will be crucial in determining whether the U.S. Strategy can successfully contain the conflict and prevent a prolonged disruption to global energy markets.