U.S. Military Helping Move 7 Million Bpd Out of Persian Gulf, Wright Says

U. S. Energy Secretary Chris Wright just gave the market a number that helps explain why Brent crude isn't trading at $150 per barrel. Speaking at a Bloomberg Energy event in Houston on Friday, Wright said the U. S.

military is now helping move roughly 7 million barrels per day (bpd) of oil out of the Persian Gulf. According to Wright, that's about half of the oil that remains stranded following the disruption of tanker traffic through the Strait of Hormuz during the ongoing U. S. -Israeli conflict with Iran.