U.S. says it won’t strike Iran’s energy sector amid regional clashes disrupting oil shipments and spiking prices.

The U.S. has stated it will not target Iran’s energy infrastructure, according to Energy Secretary Chris Wright, who downplayed Israeli strikes on fuel depots near Tehran as localized and short-term, predicting disruptions would last weeks. The attacks sparked large fires and contributed to a surge in global oil prices—West Texas Intermediate rose 36% in a week—due to disruptions in the Strait of Hormuz, a key shipping route. Iran produces about 4% of global oil, with exports limited by sanctions, primarily to China. The U.S. is working to restore shipping with military protection for early tankers and a $20 billion reinsurance mechanism, while avoiding escalation.