Energy Secretary falsely claimed Navy escorted tanker through Strait of Hormuz – markets lost $84 million while he tried to backtrack

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.

Ben Dietderich, the chief spokesperson for the Department of Energy, later said that “a video clip was deleted from Secretary Wright’s official X account after it was determined to be incorrectly captioned by Department of Energy staff.”

The false post caused real damage in a market already on edge over Strait of Hormuz tensions

White House Press Secretary Karoline Leavitt confirmed that no such escort had taken place, telling reporters, “I can confirm that the U.S. Navy has not escorted a tanker or a vessel at this time, though of course, that’s an option the president has he will absolutely utilize, if and when necessary, at the appropriate time.”

General Dan Caine, chairman of the Joint Chiefs of Staff, had also indicated earlier that day that the military had not been given orders to carry out such escorts. When asked whether a staffer would face consequences, Leavitt directed those questions to the Department of Energy.

Market analysts took notice of Wright’s post before it was taken down. Host John Roberts observed that “when you’re putting up posts that can move markets, you need to be clear and you need to be accurate in terms of what you’re putting out there.” National security correspondent Jennifer Griffin also wrote that the statement was “not true,” citing military sources.

The Strait of Hormuz is a narrow 21-mile-wide waterway between Iran and Oman that carries roughly a fifth of the world’s oil and LNG. Right now, commercial traffic through the Strait has slowed significantly due to missile attacks on tankers, fears of naval mines, and insurance withdrawals. Iran has been targeting Gulf tankers with drones and bombs, pulling neighboring countries into a conflict they never sought.

This false claim came as President Trump was making strong public threats toward Iran. On Monday, Trump warned Iran with “fire and fury” if it kept blocking oil flow in the Gulf. On Tuesday, he followed up by threatening “military consequences to Iran will be at a level never seen before” if mines were placed in the Strait and not removed.

Part of what makes Iran’s approach so hard to counter is how Iran’s drone strategy overwhelms U.S. defense systems, with thousands of low-cost drones being used against billion-dollar radar systems. This is not the first time Wright has drawn attention for his social media posts. The energy secretary is known for his strong support of fossil fuels and has frequently posted pro-administration messages.