Secretary Wright Joins Fox News' Laura Ingraham - March 11, 2026

Why It Matters

The actions aim to prevent a sustained global oil shock and reassure markets and insurers, but they signal a deeper U.S. military escalation in the Gulf with significant geopolitical and economic risks for energy prices and shipping.

Summary

Energy Secretary Chris Wright told Fox News the U.S. is actively degrading Iran’s ability to threaten shipping in the Strait of Hormuz after Iranian officials threatened vessels and several ships were struck by projectiles. He defended recent U.S. military and diplomatic moves, saying forces are working “24 hours a day” to restore safe passage and that Iran will be “near completely defanged.” To cushion supply disruptions, the administration and allies will release roughly 400 million barrels from strategic reserves over about four months, while insurers and the DFC move to shore up coverage and financing. Wright rejected media suggestions of a prior miscalculation about Iran’s response and predicted Gulf traffic will likely resume within weeks rather than months.