BlockBeats News, March 11th: U.S. Energy Secretary Chris Wright mistakenly posted and subsequently deleted a message on social media on Tuesday, claiming that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz. The news briefly triggered severe market volatility, causing international oil prices to plummet nearly 20% in a short period, with U.S. WTI crude prices temporarily falling below $77 per barrel.
Subsequently, White House Press Secretary Karoline Leavitt clarified that the U.S. Navy has not escorted any oil tankers or vessels through the strait at present, but the military is exploring various options, including naval escorts, to address potential Iranian restrictions on shipping.
On the same day, U.S. President Donald Trump posted multiple times on social platforms, stating that the U.S. has not received reports of Iran laying naval mines in the strait, but urged Iran to clear any potentially deployed explosive devices, and mentioned that U.S. forces have destroyed 10 “inactive mine-laying vessels.”
The Middle East conflict has now entered its 11th day. Pete Hegseth indicated that the U.S. and Israel are continuing strikes against Iranian targets and will persist until the adversary is defeated. Meanwhile, approximately 150 U.S. military personnel have been injured in the conflict.
Affected by the conflict, energy transport in the Persian Gulf remains obstructed, with signs of production cuts in Saudi Arabia, Iraq, the UAE, and Kuwait, intensifying market concerns over global energy supply.
