Energy Secretary Chris Wright on Friday suggested that the Strait of Hormuz, which Iran has kept closed amid its ceasefire with the U.S., will reopen “sometime this summer at the latest.” CNBC’s Brian Sullivan spoke with Wright at a new liquefied natural gas facility in Cameron,

Iran’s threats on ships in the Persian Gulf have brought exports from the oil-rich region to a near-standstill, sending energy prices soaring.

Tensions are escalating again near the Strait of Hormuz after a ship anchored off the United Arab Emirates was seized and taken toward Iran and another was attacked and sank near the coast of Oman.

U.S. Treasury Secretary Scott Bessent said China is expected to press Iran privately to get the Strait of Hormuz open again, because Beijing is sitting right in the middle of the oil problem. Scott said on Thursday that China has more at stake than the United States because it buys a huge amount of

Top U.S. officials said Tuesday that the ceasefire with Iran has not ended, despite exchanges of fire in the Strait of Hormuz. Both Rubio and Hegseth said the U.S. was in a new phase of operations designed to ensure safe passage for commercial vessels stuck in the Persian Gulf.

Iran has offered to end its chokehold on the Strait of Hormuz in exchange for the U.S. lifting its blockade on the country and an end to the war.

Qatar and Türkiye support Pakistan’s mediation efforts aimed at ending the Iran war and reopening the Strait of Hormuz, the Qatari foreign minister said on Tuesday.

President Trump’s strategy toward Iran is entering a far more dangerous phase as tensions around the Strait of Hormuz continue escalating. Military pressure, sanctions, and aggressive rhetoric have failed to produce a breakthrough while increasing fears of wider regional instability.