BlockBeats News, May 17th, according to the Hill newspaper, U.S. Energy Secretary Wright said on Friday local time that the Strait of Hormuz will "reopen at some point this summer at the latest." Wright stated that the U.S. is "continuing to expand U.S. natural gas exports," and despite losing 10 billion cubic feet of natural gas transportation capacity per day due to the closure of the Strait of Hormuz, the U.S. is still adding 2.5 billion cubic feet of natural gas export capacity per day.

"The shipping in the Strait of Hormuz will resume as soon as possible, but at the latest, it will also be this summer," Wright said, adding that the relevant agreement could potentially be reached as early as "in the next few days." Wright stated that if Iran "continues to hold the global economy hostage," the U.S. military will "forcefully reopen the Strait of Hormuz, but it is not an easy task," "We have taken preliminary steps, but the better way is to reach an agreement rather than to use military force."