Energy markets whipsawed for a second consecutive day on Tuesday as investors raced to interpret rapidly shifting comments from the administration of U.S. President Donald Trump over the war in Iran.
Oil prices plummeted after Energy Secretary Chris Wright erroneously posted ¡ª and then deleted ¡ª a message that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz, only for White House press secretary Karoline Leavitt to subsequently concede no such operation had occurred. But, the spokeswoman said, the U.S. military was ¡°drawing up additional options¡± to address any attempt by Iran to constrain trade through the vital artery.
Later Tuesday afternoon, Trump posted his own flurry of messages on social media. First, he insisted the U.S. had ¡°no reports¡± of mines being placed, but then urged Iranian forces to remove any explosives they may have laid. Next, Trump said the U.S. was ¡°using the same Technology and Missile capabilities deployed against Drug Traffickers¡± to target mining ships.
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