Energy Secretary won’t rule out $200 oil prices as Iran steps up attacks
By Dave Goldiner
Published on March 12, 2026.
Energy Secretary Chris Wright has refused to rule out a potential oil price spike, stating it is unlikely the U.S. is ready to escort tankers, despite President Trump's claim that the Persian Gulf is safe for shipping. Wright argued that the cost of this disruption would be more than short-term energy disruption for a long-term gain than short term inconvenience. The comments came after Iran launched fresh drone attacks on at least two oil tankers in the Gulf. The war has caused divisions within the Republican Party and concerns about how it could negatively impact their political standing ahead of the midterm congressional elections.
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