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Secretary Wright Discusses Hormuz Oil Flows, the Strategic Petroleum Reserve, and Appliance Rules on Fox Business, Jul. 7, 2026

July 7, 2026 · U.S. Department of Energy · 0:05:45

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

On Fox Business, Secretary Wright said, as he stated it, that on July 4 — the 250th anniversary of the country’s founding, as he put it — 22.5 million barrels of oil flowed from the Arabian Gulf region, above pre-conflict levels, with the great majority through the Strait of Hormuz, which he credited to U.S. military strength and confidence in President Trump’s leadership rather than Iranian cooperation, as he stated it. Of that volume, he said, as he stated it, 6 million barrels moved on pipelines rerouted around the strait and 16.5 million through it, and the bypass pipelines will expand over the next 12 to 24 months, as he stated it.

Asked when the United States will refill the Strategic Petroleum Reserve, which the host said sits at its lowest since 1983, Wright said, as he stated it, that it will happen over the next 24 months, and that the administration is not selling the barrels it is now releasing but trading them — a barrel out today for a barrel and a quarter back sometime next year — so that, as he stated it, the reserve will end with 30 to 40 million more barrels than when the releases began, in contrast, as he characterized it, to the prior administration selling barrels to lower gasoline prices.

On grid reliability, Wright said, as he stated it, that the biggest threat among the risks to the summer grid is the energy policies of Democratic-led states and the prior two Democratic administrations, which he said closed coal plants and nuclear plants and blocked new gas plants. On appliance rules, he described the administration’s rollback of efficiency rules for appliances such as clothes dryers as work still in progress, as he stated it in the portion aired.

Why it matters

The interview connects three live threads: oil still moving through Hormuz during the Iran conflict, a dated plan to rebuild the petroleum reserve by exchange rather than purchase, and the continuing fight over appliance efficiency rules and summer grid reliability.

Scoreboard watch

Secretary Wright’s dated commitments in this interview — rebuilding the Strategic Petroleum Reserve over the next 24 months and ending with 30 to 40 million additional barrels through exchanges returning a barrel and a quarter per barrel released, all as he stated them — are checkable against reserve levels. Flagged as scoreboard candidates for the editor; no verdict is published from this page.

Sources: U.S. Department of Energy, “Secretary Wright Joins Fox Business - July 7, 2026”, 2026-07-07 (official upload, embedded above; published 2026-07-07). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.