Strait of Hormuz Attacks Undercut Chevron's Plans for Oil Trade

Chevron CEO Mike Wirth emphasized that recent attacks on vessels in the Strait of Hormuz underscore the ongoing risks for shipowners in the Persian Gulf, regardless of a potential peace accord between the US and Iran.

Wirth stated that there have been 'multiple incidents' of ships being attacked while transiting through the strait this week, some of which have not been reported by the media.

The Chevron CEO clarified that the company would not consider paying a toll to move its ships through the Strait of Hormuz, as it is up to the ship owners and their insurers to determine whether passage is safe for oil trade to resume.