Energy Secretary Chris Wright is throwing one of his own staffers to the wolves after a social media post that briefly sent global oil markets into disarray.
In a post on X on Tuesday, Wright wrote that “the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets,” and praised President Donald Trump for “maintaining stability of global energy” during his own war in Iran.
The post was deleted minutes later, but markets were already responding, with benchmark U.S. crude prices plummeting by as much as 19 percent. In addition, the Wall Street Journal reported that an exchange-traded fund linked to oil futures lost $84 million of its market capitalization.
Dodging responsibility, Energy Department spokesperson Ben Dietderich told the Daily Beast, “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.
“President Trump, Secretary Wright, and the rest of the President’s energy team are closely monitoring the situation, speaking with industry leaders, and having the U.S. military draw up additional options to keep the Strait of Hormuz open, including the potential for our Navy to escort tankers,” he continued. NewsNation reporter Libbey Dean reported receiving the same statement.
Asked about the post during her Tuesday briefing, Press Secretary Karoline Leavitt said she was aware the post had been made, but had not yet spoken to Wright about it.
“However, I know the post was taken down pretty quickly, and 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.”
When pressed on whether the department staffer might face consequences for the erroneous post, Leavitt referred reporters to the Department of Energy.
The effective closure of the Strait of Hormuz as a result of the president’s war on Iran and the threat of attacks on tankers and naval mines has had a significant effect on global markets and trade, driving the prices of both oil and gas up.
On Saturday, Kuwait announced cuts to its oil production, citing Iranian threats against ships that pass through the strait, while output in Iraq has “effectively collapsed.” The United Arab Emirates also noted on Saturday that it was “carefully managing offshore production levels to address storage requirements.”
Lead crude research analyst at Kpler, Homayoun Falakshahi, told CNN that oil could soar to as much as $150 a barrel by the end of the month if ships continue to be unable to travel through the strait.
Secretary Wright told reporters on Sunday that travel through the strait would only resume once the U.S. had destroyed Iran’s ability to threaten oil tankers.
“We’re nowhere near normal traffic right now,” he told CNN. “That will take some time. But again, worst-case that’s a few weeks, that’s not months.”
He also dismissed concerns about surging oil prices, telling Fox News on Sunday, “It’s fiction. It’s right along the line. I’ve read about a dozen fiction pieces from Politico and other news things about stuff just totally made up, whole cloth.”
Trump, for his part, has threatened even more aggressive strikes on Iran if the nation does anything to prevent the flow of oil.
“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” the president wrote on Truth Social on Monday.
Despite his threats, it was reported on Tuesday that Iran has begun preparing to lay mines in the strait, prompting the U.S. to destroy 16 mine-laying vessels in what one senior U.S. official told Axios was a preemptive measure.
