BlockBeats News, March 11th, U.S. Energy Secretary Chris Wright mistakenly posted on social media and later deleted a message on Tuesday, claiming that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz. The message briefly caused severe market turbulence, with international oil prices plummeting by nearly 20% and the U.S. WTI crude oil price briefly falling below $77 per barrel.
Subsequently, White House Press Secretary Karoline Leavitt clarified that the U.S. Navy has not yet escorted any oil tankers or ships through the strait, but the military is considering various options, including naval escort, to address a potential disruption of shipping by Iran.
On the same day, U.S. President Donald Trump posted a series of tweets on social media stating that the U.S. has not received any reports of Iran laying mines in the strait but urged Iran to remove any potential explosive devices and stated that the U.S. military has destroyed 10 “inactive mine-laying ships.”
The current Middle East conflict has entered its 11th day. Pete Hegseth stated that the U.S. and Israel are continuing to strike Iranian targets and will continue operations until the adversary is defeated. Meanwhile, about 150 U.S. troops have been injured in the conflict.
Due to the conflict, energy transportation in the Persian Gulf continues to be disrupted, with signs of production cuts in Saudi Arabia, Iraq, the UAE, and Kuwait. Concerns about global energy supply remain high.
