Strait of Hormuz remains blocked as Trump flips on US Navy Escort Plans
Key Takeaways
- White House says no U.S. Navy escort of any tanker through the Strait of Hormuz.
- Energy Secretary Chris Wright posted, then deleted, a claim that an escort occurred, triggering confusion.
- Britain, France and allies prep Hormuz escort plans; discussions underway, no escort yet.
Escorting Tankers: Confusion and Contradiction
Energy Secretary Wright posted then deleted a tweet claiming the US Navy had escorted a tanker through the Strait of Hormuz.
The White House swiftly contradicted, and Iran's Revolutionary Guards called it a pure falsehood.
At least 10 tankers had been hit since March 1, contributing to a near-total shutdown of the waterway.
Markets swung wildly as oil prices dropped sharply then pared gains.
Franco-British Plan Stymied by Macron
France and the UK prepared to escort tankers once the war ended.
Macron ruled out involvement until the war is over, warning it is unrealistic.
Britain hosted diplomats from over 40 countries to discuss the Hormuz operation.
Military experts agreed the environment remained too dangerous.
Oil and Trade Choke as Strait Remains Blocked
The Strait of Hormuz remained effectively closed after Iran issued a traffic ban.
“Is the ongoing oil crisis being resolved”
Over 200 ships were at a standstill in the region.
The closure threatened nearly 20% of global oil supply.
Oil prices surged above $90 a barrel.
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