HOUSTON, March 23 (Reuters) – Global oil prices have not climbed enough to cause demand destruction, U.S. Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston Texas.
The remarks come as markets have fallen into chaos as the U.S.-Israel war with Iran has led to the closure of a key trade point and damage to production infrastructure in the Middle East. On Monday, global Brent futures were trading over $100 a barrel.
(Reporting by Jarrett Renshaw in Houston; Writing by Liz Hampton)
