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U.S. Navy has not yet escorted ships through Strait of Hormuz, White House says
White House and military officials refuted Energy Secretary Wright's claim of a U.S. Navy escort through the Strait of Hormuz, highlighting ongoing risks and market volatility.
- On Tuesday, Energy Secretary Chris Wright posted then deleted a claim about U.S. military escort around 1:02pm US Eastern time; White House Press Secretary Karoline Leavitt said, 'I can confirm that the US Navy has not escorted a tanker or a vessel at this time.'
- On March 3, the US Development Finance Corporation announced it would offer 'political risk insurance and guarantees' and said military support may be available, amid signals of potential US Navy escort in the Strait of Hormuz.
- With military assets occupied, officials warned that the U.S. announced last week plans to escort tankers but provided no timeline, and military officials said they had yet to begin operations.
- Oil markets reacted to Wright’s announcement, with prices falling below $80 a barrel after President Donald Trump said Monday the U.S. Navy was prepared to launch escorts but did not expect them to be necessary.
- With escorts still described as an available option, General Dan Caine said 'If tasked to escort, we'll look at the range of options to set the military conditions to be able to do that', amid a claimed successful escort and official denials.
128 Articles
128 Articles
Blips and Gyrations: The Market Thinking of Trump's Incompetent Advisors
In an 1100-word piece weighing the energy shock Trump’s illegal war on Iran has caused in terms of White House worries (and so implicitly, politics), Politico grants anonymity to someone describing what is happening to the oil market as “little gyrations.” A former Trump administration official added that the administration needs a “consistent, multiweek read” of oil prices before it shifts its approach. “These temporary little gyrations are not…
US energy chief's deleted Hormuz X post called market manipulation
US Energy Secretary Chris Wright, a former fracking executive, was accused on Tuesday of manipulating global markets after he posted a striking claim on social media. The American Navy, he wrote, had “successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing.” The post on X was deleted minutes later, after “oil prices slid at […] The post US energy chief’s deleted Hormuz X post called market manipulation appe…
Common Dreams
scheerpost.comTrump Energy Chief Accused of Manipulating Oil Markets With Deleted Post About Strait of Hormuz
"The fusion of war-making and market manipulation by top Trump officials isn't entirely without precedent," said one observer, "but the speed and brazenness does seem new."
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