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US Energy Secretary Deletes Post Claiming Navy Escorted Tanker Through Hormuz
US Energy Secretary Deletes Post Claiming Navy Escorted Tanker Through Hormuz
Minutes after he said on social media that the US Navy escorted a tanker through the Strait of Hormuz, US Energy Secretary Chris Wright deleted the post on Tuesday.
Oil prices took a tumble by 15 percent after Wright’s announcement that this is the first such operation since the US-Israel-Iran war began on February 28.
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Markets have been roiled by the raging conflict in West Asia, and oil dropped sharply after the initial announcement. It pared back some of those losses after the post was deleted.
“The US Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets," Wright posted on social media before he deleted the message, as reported by AFP.
The White House confirmed there is no such development, but it is an “option" for the future as President Donald Trump has said he will use it at the “appropriate time".
“…I can confirm that the US Navy has not escorted a tanker or a vessel at this time, though of course that’s an option the President has said he will absolutely utilise if and when necessary at the appropriate time…" White House Press Secretary Karoline Leavitt said.
According to AFP, no American ships have so far been confirmed to have escorted oil tankers in the Strait of Hormuz, which has been closed since the beginning of the conflict while effectively being under the control of Iran’s Revolutionary Guards.
The fighting in West Asia brought many oil shipments to a standstill, as nearly a fifth of the commodity’s global production passes through the key waterway. Earlier in the day, the Islamic Revolutionary Guard Corps (IRGC) vowed not to let even a litre of oil pass through during the war.
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Since March 2, more than 20 commercial vessels have been detected crossing the strait, as per an AFP analysis of Marine Traffic data. Others have gone through with their transponders switched off to conceal their position, sometimes only reappearing on marine trackers once safely out of the area.
The analysis showed that out of the ships that transmitted at least one signal while attempting the passage, nine oil tankers and two liquefied natural gas (LNG) tankers were detected. Before the war, a daily average of 138 ships transited Hormuz.
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The Trump administration has taken steps to try and reassure global markets since launching the war, offering reinsurance to shipping companies and the US Navy’s services to escort tankers.
Crude prices have seen sharp fluctuations due to supply disruptions, jumping 30 percent on Monday (March 9) to nearly USD 120 per barrel before retreating. They, however, continued to fall after comments by President Donald Trump hinting that the war may end soon even though Pentagon chief Pete Hegseth promised the “most intense" strikes on Iran on Tuesday.
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The war has led to a major energy crisis the world over, partially due to the closure of the strait as well as strikes by both sides on oil and energy infrastructure in Iran and the wealthy Gulf countries.
Source: News18
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