US Energy Secretary Wright to Address Iran Conflict at Conference

US Energy Secretary Chris Wright is scheduled to speak on Monday at an energy conference, with financial markets anticipating signals from President Trump that the conflict with Iran may soon conclude. Top executives from global oil companies, senior US government officials, and prominent policymakers from various nations have gathered in Houston, Texas, for the annual CERAWeek conference hosted by S&P Global. The meeting takes place as the Iran conflict has triggered the largest disruption in oil supply in history.

Ahead of Wright's Monday address, Trump stated that he would delay planned strikes on Iranian power plants by five days following what he described as "productive" dialogue with the Islamic Republic. In an interview with CNBC, the president emphasized that the US is "very hopeful about reaching an agreement with Iran."

On Saturday, Trump had threatened to bomb Iran's energy infrastructure if Tehran did not fully reopen the Strait of Hormuz. According to Iranian state media, Iran warned it would retaliate against "all energy, information technology, and desalination facilities" belonging to the US and Israel in the region.

Following Iranian attacks on commercial vessels in the Persian Gulf, oil tanker traffic through the Strait of Hormuz has declined sharply. This strait is the world's most critical maritime passage for oil exports, with approximately 20% of global oil supplies passing through the narrow waterway before the conflict.

Heightened rhetoric from both the US and Iran has intensified market concerns that energy infrastructure in the Middle East could face renewed attacks, worsening the supply disruption. However, Trump's remarks on Monday have raised hopes that there may still be a path toward de-escalation. Oil prices fell sharply on Monday, while Dow Jones futures rose significantly and the yield on 10-year US Treasury notes declined.

Since the US-Israel strikes on Iran on February 28, the price of Brent crude, the international benchmark, has surged more than 40%, surpassing $100 per barrel.