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U.S. Energy Secretary Says There Are No Guarantees Oil Prices Will Fall Soon

U.S. Energy Secretary Says There Are No Guarantees Oil Prices Will Fall Soon

According to The New York Times, the U.S. Energy Secretary said there are no guarantees that oil prices will decline anytime soon.

Fact Check
The statement is accurately attributed to U.S. Energy Secretary Chris Wright in reports from March 15 and 16, 2026. The New York Times and Just Security both corroborate that the Secretary warned there are 'no guarantees' of a decline in oil prices, specifically in the context of geopolitical tensions in the Middle East.
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Terms & Concepts
  • Oil prices: The market price of crude oil, a key global energy benchmark that can influence inflation, transport costs, and broader financial markets.