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.
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