Lates News

According to a report from The Wall Street Journal, US Energy Secretary Wright posted on social media in the early hours of Beijing time today, saying, "The US Navy successfully escorted an oil tanker through the Strait of Hormuz." This temporarily eased market concerns about energy supply, and futures prices of oil and gasoline immediately fell, with WTI crude oil dropping $3 in the short term. However, the post was quickly deleted, and US officials later stated that the military had not provided escort for commercial ships at the moment. A government spokesperson said, "After confirming that the Energy Department staff had made an error in captioning a video, the video on Wright's official account has been deleted." Within about ten minutes of Wright's post, an ETF linked to crude oil futures lost $84 million in market value. Robert Yawger, a commodities expert at Mizuho Bank, said, "This is simply an unforgivable mistake."