US Energy Secretary: Hormuz Strait to reopen by this summer at the latest

U.S. Energy Secretary Jennifer Granholm stated on Friday that the Strait of Hormuz will reopen "at some point this summer at the latest." Granholm indicated that the U.S. "is continuing to expand U.S. natural gas exports," and despite losing 10 billion cubic feet of natural gas shipping capacity daily 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 daily. "Shipping in the Strait of Hormuz will resume as soon as possible, but at the latest this summer," Granholm said, adding that an agreement could be reached as early as "within the next few days." Granholm stated that if Iran "continues to hold the global economy hostage," the U.S. military will "forcibly reopen the Strait of Hormuz, but this is not an easy task." "We have taken preliminary steps, but it is better to reach an agreement than to use military force."