Energy Secretary Chris Wright briefly sent global oil markets into chaos this week after posting a false claim on X about the U.S. Navy escorting an oil tanker through the Strait of Hormuz. The post was quickly deleted, but not before it caused U.S. crude prices to drop by as much as 19 percent. An exchange-traded fund linked to oil futures lost $84 million in market value as a result.
Wright’s now-deleted post, claimed that “the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets.” He also praised President Trump for “maintaining stability of global energy” amid the ongoing Middle East conflict. According to The Daily Beast, minutes after it went live, the post was deleted, with Wright blaming a staffer for the mistake.
