Trump Toadie, Energy Secretary Chris Wright, posted a bogus claim on X that was quickly deleted but sent oil markets into a complete frenzy. Wright erroneously claimed that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz, a vital waterway to the global oil supply that Iran has effectively closed as the U.S. and Israel continue their military campaign against the Middle Eastern country.
“President Trump is maintaining stability of global energy during the military operations against Iran,” Wright wrote. “The U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets.”
During the roughly ten minutes Wright’s tweet remained visible, an exchange-traded fund, or ETF, linked to oil futures saw $84 million of its market capitalization erased, the WSJ reported. ETFs are collections of investments, often structured around a strategy, such as tracking the energy sector of the stock market.
Benchmark U.S. crude futures, which serve as the reference price for crude oil in the country, plummeted by as much as 19 percent at one point in the day, according to the WSJ.
Energy Secretary Chris Wright, a Colorado oil and gas executive, has been trying to bring down oil prices spooked by war in Iran. He succeeded today using a false claim on social media.
— Kyle Clark (@kylec.bsky.social) March 10, 2026 at 6:55 PM
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Baghdad Blondie addressed the situation during her press conference on Tuesday:
“However, I know the post was taken down pretty quickly, and I can confirm that the U.S. Navy has not escorted a tanker or a vessel at this time, though of course, that’s an option the president has he will absolutely utilize, if and when necessary, at the appropriate time.”