U.S. Secretary of Energy Chris Wright stated on Sunday that the war between the United States, Israel, and Iran could potentially end within a few weeks, suggesting he anticipates a subsequent decline in the currently surging oil prices. "The American people are feeling the impact now and will continue to feel it in the coming weeks," Wright told host Kristen Welker on NBC's "Meet the Press." "But ultimately, we will eliminate the biggest threat to global energy supplies. We are heading towards a world with more abundant energy, more affordable prices, and reduced risks for U.S. military personnel and American commercial activities in the Middle East." When asked if "a few more weeks" represented his expected timeline for the conflict's duration, he added, "I believe that is a plausible timeframe." The remarks follow a statement last week that the war was "nearing its end," although in a Saturday interview with Welker, it was indicated that while Iran is prepared to make a deal to end the war, it would not be accepted because "the terms are not good enough." Wright's comments come as Iran's closure of the Strait of Hormuz has driven crude oil prices above $100 per barrel, raising market concerns that U.S. and global gasoline prices could continue to rise if the conflict persists. In a social media post on Saturday morning, it was claimed that several countries, including France, Japan, South Korea, and the United Kingdom, are "expected" to send naval vessels near Iran to assist in reopening the strait. U.S. allies in Asia, such as Japan and South Korea, are scrambling to address the energy crisis triggered by the war, with the administration reportedly offering little guidance. Appearing on ABC's "This Week," Wright also refuted claims by Senate Minority Leader Chuck Schumer that the administration lacked sufficient planning for Iran's closure of the Strait of Hormuz. "He is either laughably naive or deliberately disingenuous, with the latter being more likely," Wright told host Martha Raddatz. "Everyone is aware of the issues surrounding the Strait of Hormuz. We have certainly conducted thorough planning for potential scenarios involving the strait and our response options." Wright added that "multiple contingency plans are in place" but did not provide specifics. The White House is considering various measures to lower oil prices—including potentially repealing a century-old law requiring maritime commerce to use U.S.-flagged vessels—an effort being led by the White House Chief of Staff. As part of a historic emergency release by the International Energy Agency, the U.S. last week agreed to release 172 million barrels of crude from the Strategic Petroleum Reserve; the Treasury Department also eased some sanctions on Russian crude on Thursday to help alleviate price pressures. During the NBC interview, Wright stated that the administration aims to get gasoline prices below $3 per gallon by summer but added that "there are no guarantees in a war," leaving the timeline for price reductions uncertain. Administration officials and allies have indicated to POLITICO that the White House believes it can withstand high oil prices for up to four weeks—but even if the war ends, prices are unlikely to quickly return to pre-conflict levels. On Sunday, Wright dismissed Iran's warnings that crude prices could reach $200 per barrel, telling Welker, "I simply do not pay attention to what Iran says."
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