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The Latest Breaking News from Chris Wright

Plus: Pete Hegseth spends millions on lobster tail and rib-eye steak, oil prices go for another roller-coaster ride, no inflation increase, and more...

Reason

US secretary deletes post that US helped tanker pass Hormuz

IN FULL

The Independent UK

Confirmed, deleted, then clarified: US shifts stance on navy 'escorting' oil tanker in Strait of Hormuz

A US Energy Secretary's claim of escorting an oil tanker through the Strait of Hormuz was swiftly deleted and corrected by the White House, stating no such escort occurred. This caused market jitters, with oil prices fluctuating. Iran's Revolutionary Guards also refuted the assertion, calling it false. The Strait remains…

The Times of India

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Three merchant ships struck as tensions rise in Hormuz strait amid Iran war

Crew of Thai-registered bulk carrier forced to flee fire, as US says it has destroyed 16 Iranian mine-laying vessels

The Guardian - UK

Deleted social media post from Trump’s energy secretary sends oil markets into frenzy: report

Earlier Tuesday, Energy Secretary Chris Wright wrote on X that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz

The Independent UK

Stocks End Slightly Lower as T-note Yields Rise

The S&P 500 Index ($SPX ) (SPY ) on Tuesday fell -0.21%, the Dow Jones Industrial Average ($DOWI ) (DIA ) fell -0.07%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell -0.04%. March E-mini S&P futures (ESH26 ) fell -0.11%, and March E-mini Nasdaq futures (NQH26 ) rose...

Barchart

Crude Prices Plunge on Hopes for a Quick End to Iran War or at least a G-7 Oil Stockpile Release

April WTI crude oil (CLJ26 ) on Tuesday closed down -11.32 (-11.94%) at $83.45, and April RBOB gasoline (RBJ26 ) closed down -0.1681 (-5.99%). April WTI crude oil on Monday rallied to a 3.75-year nearest-futures high of $119.48 but has since fallen back to the $83-per-barrel area. Crude oil prices...

Barchart

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US Navy has not escorted a tanker through Strait of Hormuz but...: White House clarifies energy secretary's deleted post

White House spokesperson Karoline Leavitt Tuesday clarified that US Navy did not escort a tanker through the Strait of Hormuz at this time but added that it remains an option that the president will utilize if and when necessary. Hours before Leavitt's press conference, US energy secretary Chris Wright claimed…

The Times of India

Senator begs Israel to stop attacking oil assets, citing humanitarian reasons, but we all know it is just about the oil

Pleads with Netanyahu to "be cautious about what targets you select".

We Got This Covered

Trump promised to fill America’s oil reserves ‘right to the top.’ A year later, oil has exceeded $100 and they’re still less than 60% full

Since the beginning of Trump’s second term, the strategic oil reserve has grown only 5%.

Fortune

Oil Prices Surge Above Pandemic-Era Levels As Iran War Tightens Supply Chain

Gas prices have spiked 27 cents a gallon in the last week as the Iran war has caused the price of oil to skyrocket.

International Business Times

Rising pump prices draw calls to action from Democrats

As oil prices rise in the wake of U.S. military operations in Iran, Senate Democrats have begun calling for a solution to the increasing costs. Senate Minority Leader Charles E. Schumer, in a Sunday post on X, called on President Donald Trump to draw down oil from the Strategic Petroleum…

Roll Call

Gasoline prices have already jumped 19% since Iran attacks started with oil prices continuing to soar

President Donald Trump insists rising costs from the Iran conflict are ‘a very small price to pay’ for ‘peace’

The Independent UK

A new Khamenei as Supreme Leader, oil above $100: Did Trump miscalculate Iran?

Operation Epic Fury escalates as Iran installs Mojtaba Khamenei as supreme leader following his father's death. With oil prices soaring above $100 a barrel and attacks widening across the region, the conflict is morphing into a larger, riskier war with no clear end in sight.

The Times of India

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The Independent UK

Oil prices: What it means for your money as Brent crude surges again after Iraq tanker attacks

Energy bills rising is an inflationary pressure the UK’s economy could do without

International Business Times UK

Oil Prices Hit $100 as Middle East War Threatens 20% of World Oil Supply

Crude oil prices hit $110 amid Middle East tensions, risking a global energy crisis. Discover how market volatility impacts global economies and energy supplies.

The Independent UK

Trump says oil price spike is ‘very small price to pay for safety and peace’ as Iran war rages

On Sunday, oil prices surpassed the $100-a-barrel milestone for the first time in more than three-and-a-half years

Axios

Schumer calls on Trump to release oil from reserve to lower gas prices

Republicans have been slow to embrace the idea.

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news in one place.

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The Guardian - US

US energy chief says spike in gas prices will fall ‘before too long’ amid Iran war

Chris Wright says price increase would last weeks, not months, and that US would not target Iran’s energy industry

Axios

Trump's energy chief blames oil price spike on market fear

Gas is up 47 cents a gallon in one week.

Axios

Energy woes deepen as Trump team looks to soften blow

Oil and gasoline prices are marching upward again Friday, even as Trump administration officials seek ways to get more barrels into the market.

The Guardian - US

Kristi Noem confronts grim truth that everyone is expendable in Trump world

Many will regard the ex-secretary of homeland security, Trump’s first fired cabinet member, as the worst yet seen

The Independent UK

White House is looking ‘under every rock’ to solve rising gas prices after Trump’s war in Iran spikes costs, report says

Gas prices in the U.S. rose roughly 28 cents per gallon in one week, as a result of U.S. and Israeli strikes in Iran

Latin Times

Venezuela Reportedly Canceled Sale Of Assets Seized From U.S. Company After Trump Admin Intervened

Venezuela canceled the auction of assets seized from Halliburton after the Trump administration intervened, according to a new report.

The Guardian - US

Democrats urge dropping plan to double gas exports as US energy prices soar

‘Policies are not putting America first,’ letter says to energy secretary as Trump’s repeated pledges to slash utility bills

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