Global & US Headlines

White House Disavows Energy Secretary’s False Hormuz Escort Claim, Rattling Oil Markets

On 11 March 2026 the White House refuted Energy Secretary Chris Wright’s deleted post that the U.S. Navy had escorted a tanker through the still-shuttered Strait of Hormuz, reversing a rapid $10-plus drop in Brent crude and wider market swings.

By Underlines Team

Focusing Facts

  1. During the ~10-minute life of Wright’s post, an oil-linked ETF shed US$84 million and Brent futures dived as much as 19 %, bottoming near $82 per barrel before rebounding.
  2. Press Secretary Karoline Leavitt told reporters on 11 Mar 2026 that "the U.S. Navy has not escorted a tanker at this time," adding only contingency options are being drafted.
  3. The Strait of Hormuz, effectively closed since the Iran war began on 28 Feb 2026, normally moves about 20 million barrels—or one-fifth of global oil—each day.

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