US Energy Secretary Chris Wright took "full ownership" for a social media post that sent oil prices tumbling after incorrectly claiming the US Navy had escorted an oil tanker through the Strait of Hormuz. The erroneous statement, which was deleted minutes after posting, rattled traders and caused market volatility in energy futures.

Wright's admission came after the post triggered a sharp reaction in oil markets, where prices briefly spiked before falling as traders realized the information was false. The Strait of Hormuz is a critical chokepoint for global oil shipments, with roughly 20% of the world's petroleum passing through the waterway daily. Any perceived threat to shipping in the area typically causes immediate price movements.

The incident highlights the market sensitivity to geopolitical developments in the Middle East and the potential for misinformation to disrupt trading. Energy traders closely monitor developments in the region, where tensions between Iran and Western powers frequently affect oil flows. Wright's quick acknowledgment of the error and deletion of the post helped markets stabilize, though the brief disruption demonstrated how quickly false information can impact commodity prices.