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Energy Secretary Chris Wright: Iran will be back to exporting similar volume as Biden era

Watch on YouTube ↗  |  June 25, 2026 at 15:50  |  5:05  |  CNBC
Speakers
Chris Wright — US Energy Secretary

Summary

CNBC's Pippa Stevens interviews Energy Secretary Chris Wright at Idaho National Laboratory, where the first new U.S. nuclear reactor in over 50 years was switched on. Secretary Wright declares a nuclear renaissance, outlines plans for advanced reactors, small modular reactors, and a massive AP1000 build program with private capital and government support. He also discusses Iran oil sanctions, expecting exports to remain at 1.5-2 million barrels per day, similar to the Biden era, which could limit oil price upside.

  • First new U.S. nuclear reactor in 50 years goes critical at Idaho National Lab.
  • Multiple Gen IV reactors to achieve criticality by July 4th under Trump administration goals.
  • Private capital and DOE support accelerating commercialization; first SMR electricity expected by end of 2026/2028.
  • Ten AP1000 large reactors (11 GW total) announced, construction to start in 12-36 months.
  • Iran oil sanctions recently broadened, but Secretary Wright expects exports to persist near 1.5-2 mbd.
  • Resilient Iranian supply could keep a lid on crude oil prices.
Ideas
Chris Wright US Energy Secretary 0:32
Nuclear energy is in a golden era.
The U.S. nuclear energy industry is entering a golden era, with multiple next-generation reactors achieving criticality, private capital leading commercialization, and strong government support. Large-scale AP1000 builds are starting, and the first small modular reactor electricity is expected by end of next year, driving a massive expansion of firm generating capacity.
URA HIGH
Chris Wright US Energy Secretary 4:17
Iran oil exports to remain robust.
Despite broadened sanctions, Iran will continue to export 1.5 to 2 million barrels of oil per day, similar to volumes during the Biden administration, because it can sell to China and now has more freedom to sell elsewhere, keeping global supply robust and capping oil price upside.
WTI MED
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This CNBC video, published June 25, 2026, features Chris Wright discussing URA, WTI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Chris Wright  · Tickers: URA, WTI