Middle East Crisis Oil Market

Post about escorted ship deleted – Iran denies

The US Navy has not yet escorted any oil tanker through the Strait of Hormuz. The White House confirmed this on Tuesday evening after Energy Secretary Chris Wright claimed so, in a post on X that was later deleted. Reuters reports.

Oil prices fell heavily on the post and then bounced back.

In the deleted post, Wright wrote that “the Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure that oil continues to flow to global markets”.

The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and normally transports 20 million barrels of oil daily.

USA: Signs that Iran may mine the Strait of Hormuz

American intelligence has begun to see signs that Iran is taking steps to mine the Strait of Hormuz, writes CBS reporter Jennifer Jacobs on X.

According to information to CNN, Iran has already begun mining, and in recent days about a dozen have been placed in the strait.

The source also says that Iran still has between 80 and 90 percent of its small boats and mine ships left, which means that Iran can place hundreds of mines in the important oil waterway.

Iran is estimated to have between 2,000 and 6,000 mines in its stockpile.

Trump writes later in the evening in a statement on Truth Social that if the information is correct and Iran does not remove the mines, the consequences for the country will be at a level never seen before.