The US Energy Secretary predicts that oil prices will continue to fall, and states that the transportation of oil through the Strait of Hormuz has returned to "normal levels."

US Energy Secretary Chris Wright said on Sunday that after the US and Iran signed a preliminary agreement to resume navigation in this key waterway, the oil transportation through the Strait of Hormuz has "returned to normal." Negotiators will focus on resolving the remaining nuclear-related issues in the next two months. Wright said on ABC's news program, "I no longer predict the trend of crude oil or gasoline prices, but oil prices will continue to decline. The oil and natural gas transportation through the strait has returned to normal, and regardless of the progress of the US-Iran negotiations, transportation will remain stable. With the continuous increase in US crude oil production and a significant increase in Venezuelan production, as well as our cooperation with other energy-producing countries around the world, I believe American people can expect energy prices to continue to decrease." Wright, in the program, told co-host Jonathan Karl that this candid conversation on Sunday will clarify Iran's demands and what concessions Iran may need to make. Regarding Iran, Wright said, "They no longer have the leverage they have always held in past negotiations."