Oil retreats even after Energy Secretary wrongly claims Navy escorted tanker through Strait of Hormuz

[muriel_volestrangler]

Source: CNBC

Oil prices retreated Tuesday, even after Secretary of Energy Chris Wright wrongly claimed in a social media post that the U.S. Navy had escorted a tanker through the Strait of Hormuz.

“The U.S. Navy has not escorted a tanker or a vessel at this time,” White House Press Secretary Karoline Leavitt told reporters Tuesday.

U.S. crude oil fell 11.94% to close at $83.45 per barrel. Brent crude , the global benchmark, lost 11.28% to settle at $87.80. Prices fell more than 17% immediately after Wright’s post.
...
Wright had said “the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets.”

Read more: https://www.cnbc.com/2026/03/10/crude-oil-prices-today-iran-war.html

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Bunch of lying incompetent idiots.

[OC375]

1. It's all perception

If you want it to spike again, just get some world leader to say they lost a ship, or some journalist post some photos of WWII era sea mines online.

[blue-wave]

2. Did they wave a friendly

wave as they passed the Iranians laying mines?