Chevron CEO warns Iran conflict leaves energy markets fragile

Chevron chairman and chief executive Mike Wirth told Fox News host Maria Bartiromo on “Sunday Morning Futures” that the war involving Iran has left global energy markets “somewhat fragile and uncertain.” Speaking in an interview aired Sunday, Wirth highlighted how the conflict has heightened risk across all major oil‑export transit routes, including the Strait of Hormuz, the Red Sea corridor and the Suez Canal, and noted that these heightened geopolitical tensions are influencing price volatility and supply‑chain planning for the industry.

Wirth added that Chevron is closely monitoring the situation and adjusting its operational strategies to mitigate potential disruptions. The company continues to rely on diversified sourcing and strategic inventory management while engaging with regulators and partners to ensure the resilience of its supply chain. He concluded that, although the current environment presents challenges, Chevron remains prepared to navigate the evolving market dynamics and maintain steady delivery of energy products.