Energy Sec Wright visits Saudi Arabia, Qatar, UAE to bolster oil ties

U.S. Energy Secretary Chris Wright is set to begin a nearly two-week tour of Saudi Arabia, Qatar, and the United Arab Emirates, marking his first official visit to the region as part of efforts to prepare for President Trump's upcoming trip. The visit is timely, coinciding with Trump's announcement of direct talks with Iran over its nuclear program and amidst concerns of low global oil prices, which have reached a near four-year low. Wright's discussions will focus on ensuring a stable global oil supply while addressing potential investments from these Gulf nations into the U.S. The tour aims to strengthen relations and explore energy cooperation, especially given the backdrop of rising global trade tensions. Additionally, there are concerns that Iran's nuclear ambitions could trigger a regional arms race, prompting further scrutiny of energy exports from the region. The trip also highlights U.S. efforts to leverage its sanctions against countries like Iran and Venezuela to maintain influence over global oil markets.