"The American Navy, he wrote, had "successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing." The post on X was deleted minutes later, after "oil prices slid at their steepest pace in years," according to the Wall Street Journal. The White House press secretary later acknowledged publicly that Wright's claim was false."
""So who just made $100 million dollars shorting oil for the 3 minutes that Chris Wright had that post up?" asked hedge fund manager Spencer Hakimian, highlighting potential financial gains from the brief market movement caused by the false claim."
""the fusion of war-making and market manipulation by top Trump officials isn't entirely without precedent, but the speed and brazenness does seem new," wrote anti-monopoly researcher Matt Stoller in response to the post and its deletion."
Energy Secretary Chris Wright, a former fracking executive, posted on social media claiming the U.S. Navy had successfully escorted an oil tanker through the Strait of Hormuz to maintain oil flow. The post was deleted minutes later after oil prices experienced their steepest decline in years. The White House press secretary publicly denied the claim, and the Energy Department attributed the false post to staff error. The incident raised concerns about market manipulation, with observers noting the speed and brazenness of the false claim. Iran's foreign minister accused U.S. officials of posting fake news to manipulate markets.
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