Oil and Gas
Oil retreats even after Energy Secretary wrongly claims Navy escorted tanker through Strait of Hormuz
Key Points
- Secretary of Energy Chris Wright wrongly claimed in a social media post that the U.S. Navy had successfully 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.
- Oil prices fell sharply after Wright’s post.
- Oil traffic through the critical Strait has been severely disrupted as oil shippers fear attacks by Iran, keeping ships at anchor.
