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Energy Policy · Geopolitics · Oil Markets · Strait Of Hormuz
White House Press Secretary Karoline Leavitt clarified that the U.S. Navy has not escorted any oil tankers through the Strait of Hormuz, directly contradicting a now-deleted X post by Energy Secretary Chris Wright.
Wright's post, which included a video of him discussing energy flow restrictions and the U.S. stepping into the insurance market for tankers, claimed a successful Navy escort of an oil tanker. This erroneous communication triggered significant volatility in global oil markets.
U.S. crude oil prices plummeted by as much as 19 percent, falling below $77 per barrel, while international Brent crude briefly dropped 17 percent to under $80 before recovering to over $90. The Department of Energy attributed the incorrect caption to a staff member.
Leavitt confirmed the post's swift removal and the current absence of U.S. Navy escorts, though she did not rule out such actions in the future. President Donald Trump later issued a warning on Truth Social regarding potential military action if Iran has placed mines in the Strait, further highlighting the region's instability.
This incident underscores the profound impact of official government communications on sensitive global commodities and geopolitical stability.
