US energy chiefs deleted Hormuz X post called market manipulation

US Energy Secretary Chris Wright, a formerfrackingexecutive, was accused on Tuesday of manipulating global markets after he posted a striking claim onsocial media. The American Navy, he wrote, had “successfully escorted anoiltanker through the Strait of Hormuz to ensure oil remains flowing.”

The post on X was deleted minutes later, after “oil prices slid at their steepest pace in years,” according to theWall StreetJournal. TheWhite Housepress secretary lateracknowledgedpublicly that Wright’s claim was false, and the Energy Department – which has beenscrambling to quell mounting fearsof a sustained increase in oil prices and broader supply chain chaos stemming from the US-Israeli assault on Iran – threw unnamed staff under the bus,sayingthey “incorrectly captioned” the post.

“So who just made $100 million dollars shorting oil for the three minutes that Chris Wright had that post up?”askedhedge fund manager Spencer Hakimian.

Anti-monopoly researcher Matt Stollerwrotein response to the post and its deletion that “the fusion of war-making and market manipulation by top Trump officials isn’t entirely without precedent, but the speed and brazenness does seem new.”

The debacle also notably drew a reaction from the Iranian foreign minister, Abbas Araghchi, whowroteon X that “US officials are posting fake news to manipulate markets.”

“It won’t protect them from inflationary tsunami they’ve imposed on Americans,” wrote Araghchi. “Markets are facing the biggest shortfall in HISTORY: bigger than the Arab Oil Embargo, Iran’s Islamic Revolution, and the Kuwait invasion COMBINED.”

The Strait of Hormuz has become a critical flashpoint of the US-Israeli war on Iran, whose military hasthreatened to attackvessels that attempt to pass through the route in retaliation for the deadly missile onslaught. An estimated 13 million barrels per day passed through the strait in 2025—roughly31% of all seaborne crude flows.

“At the beginning of the war we announced, and we announce again, no vessel associated with aggressors against Iran has the right to pass through the Strait of Hormuz,”saidthe Islamic Revolutionary Guards Corps. “If you have doubts, come closer and find out.”

ReutersreportedTuesday that, contrary to Wright’s deleted post, the US Navy has “refused near-daily requests from the shipping industry for military escorts through theStrait of Hormuzsince the start of the war on Iran, saying the risk of attacks is too high for now.”

TheUnited KingdomMaritimeTradeOperations centersaidearly Wednesday that a cargo vessel in the strait was “hit by an unknown projectile,” causing a fire onboard and forcing crew members to evacuate.

The report came hours after theUS militarysaidit “eliminated multiple Iranian naval vessels,” including “16 minelayers near the Strait of Hormuz.” The announcement followed, by less than two hours, a social mediapostfrom PresidentDonald Trumpdeclaring that “we have no reports” of Iran laying mines in the strait.

“If for any reason mines were placed, and they are not removed forthwith, the Military consequences to Iran will be at a level never seen before,” Trump wrote. “If, on the other hand, they remove what may have been placed, it will be a giant step in the right direction!”

After attending a classified briefing on Tuesday, US Sen.Chris Murphy(D-Conn.)wrotethat it was obvious the administration “had no plan” regarding the Strait of Hormuz prior to launching its assault on Iran.

“They don’t know how to get it safely back open,” Murphy wrote. “Which is unforgivable, because this part of the disaster was 100% foreseeable.”

Originally published by Common Dreams, this article is republished under Creative Commons license.