U.S. Energy Secretary Chris Wright announced that oil prices are likely to peak in the next few weeks and will continue to rise until there is a "meaningful" resumption of shipping through the Strait of Hormuz, which has been restricted due to recent military operations. US President Donald Trump stated that 158 Iranian navy ships have been destroyed in these operations, while 34 ships passed through the Strait of Hormuz the previous day, the highest number since the blockade began.
