U.S. Energy Secretary Chris Wright stated during an NBC program on Sunday that he is unable to predict gasoline or oil prices. This follows remarks he made in March, approximately two weeks after the outbreak of the Iran conflict, when he suggested it was "very likely" that gasoline prices would fall back below the pre-conflict level of $3 per gallon before the busy summer travel season.
When questioned on Sunday about his March comments, he reiterated his inability to make a forecast, adding, "What I can say is that energy prices will decline once we begin to see traffic through the Strait of Hormuz return to normal flow."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments