Deleted Wright post sparks oil-market turmoil over Strait of Hormuz claim

1 min read
Source: The Independent
Deleted Wright post sparks oil-market turmoil over Strait of Hormuz claim
Photo: The Independent
TL;DR Summary

An erased post from Energy Secretary Chris Wright claiming the U.S. Navy escorted an oil tanker through the Strait of Hormuz briefly rattled oil markets, with a WSJ report showing about $84 million wiped from an oil ETF and crude futures plunging as much as 19% before settling around $83.45 a barrel; the White House later said the claim was incorrect and blamed DOE staff for the post, amid ongoing tensions with Iran and reports of mines in the Strait.

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