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The Latest Breaking News from Chris Wright

US energy chief has dire prediction about gas prices under Trump

Trump’s war will end in ‘weeks’ but oil prices will be ‘elevated’ until it concludes, Chris Wright warns

The Independent UK

Trump promised Oil money, so his minion used emergency powers to restart disastrous oil spill pipeline

Another attempt by the Administration to force compliance so that Trump gets what he wants.

We Got This Covered

US energy secretary says war against Iran will be over ‘within next few weeks’

IN FULL

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

US Energy secretary directs oil company to restore operations off California

U.S. Energy Secretary Chris Wright has directed a Texas-based oil and gas company to restore operations in waters off southern California that were damaged by a 2015 oil spill, invoking the Defense Production Act

The Independent UK

Trump’s bold promises for Hormuz collapse after one devastating truth from his own administration

The United States military isn’t ready to escort oil ships through the Strait of Hormuz, according to a top official in President Donald Trump’s administration, directly contradicting earlier suggestions from the president. This news comes as Iran continues to effectively block the crucial waterway, causing oil prices to surge worldwide.

The Mary Sue

What is the strait of Hormuz and can the US stop Iran from blocking it?

Energy prices have soared as Iranian strikes and reports of mines prevent ships from transiting the chokepoint

The Guardian - UK

Hormuz miscalculation? Trump sideswiped by Iran's closure of Strait

Washington underestimated Iran's threat to close the Strait of Hormuz, causing global oil market jitters. Despite planning, economic fallout wasn't fully accounted for, leaving the US scrambling. While officials claim preparedness, limited options and high risks for naval escorts are evident. Iran signals the strait's closure remains a pressure tool.

The Times of India

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SPR drawdown might not be enough for consumers, Democrats say

President Donald Trump’s decision to draw crude oil from the Strategic Petroleum Reserve received little criticism on Capitol Hill Thursday, although Democrats expressed reservations that it would not do much to insulate Americans from global price volatility resulting from the war in Iran. Senate Energy and Natural Resources ranking member…

Roll Call

Ship escorts to start in Strait of Hormuz "soon," Trump officials say

Scott Bessent made the comments to Sky News as he confirmed the war had cost the U.S. $11 billion thus far.

Axios

Trump promises to release nation’s oil reserves to steady gas prices after his Iran War caused massive spikes

Last week, oil surged past the $100-a-barrel milestone, after recording its largest one-week spike since March 1983

The Independent UK

'We are simply not ready': US says its military cannot escort vessels in Strait of Hormuz right now

America's military is currently unable to escort oil tankers through the Strait of Hormuz. Energy Secretary Chris Wright stated that military assets are focused on Iran's offensive capabilities. Escort operations are expected soon, possibly by month's end. US forces have eliminated Iranian vessels suspected of laying mines near the strait.

The Times of India

Largest ever oil reserves released as Iran war fuels price rises

The Middle East conflict has seen oil prices surge as the flow of oil tankers has effectively stopped

The Independent UK

Iran-US war latest: Trump says strikes have ‘obliterated’ military targets on vital oil hub island

Kharg Island is the linchpin of Tehran’s oil industry

The Independent UK

Trump news at a glance: Trump says war is won but ‘we don’t want to leave early’ as oil prices rise again

Trump continues contradictory messaging on Iran; US will release 172m barrels of oil from strategic supplies. Key US politics stories from 11 March

The Guardian - US

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news in one place.

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The Guardian - UK

Oil price tops $100 again as Iran strikes economic targets across Middle East

Vast release of emergency crude reserves fails to quell mounting fears about supply crunch, rattling markets

Fortune

The fog of war is coming from inside the White House—and it cost oil markets $84 million in ten minutes

Meanwhile, the market shrugs at news of a record emergency release of oil.

We Got This Covered

Energy Secretary falsely claimed Navy escorted tanker through Strait of Hormuz – markets lost $84 million while he tried to backtrack

Gave the market false hope.

Reason

War Rations

Plus: Pete Hegseth spends millions on lobster tail and rib-eye steak, oil prices go for another roller-coaster ride, no inflation increase, and more...

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news in one place.

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The Independent UK

US secretary deletes post that US helped tanker pass Hormuz

IN FULL

The Times of India

Confirmed, deleted, then clarified: US shifts stance on navy 'escorting' oil tanker in Strait of Hormuz

A US Energy Secretary's claim of escorting an oil tanker through the Strait of Hormuz was swiftly deleted and corrected by the White House, stating no such escort occurred. This caused market jitters, with oil prices fluctuating. Iran's Revolutionary Guards also refuted the assertion, calling it false. The Strait remains…

The Guardian - UK

Three merchant ships struck as tensions rise in Hormuz strait amid Iran war

Crew of Thai-registered bulk carrier forced to flee fire, as US says it has destroyed 16 Iranian mine-laying vessels

The Independent UK

Deleted social media post from Trump’s energy secretary sends oil markets into frenzy: report

Earlier Tuesday, Energy Secretary Chris Wright wrote on X that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz

Barchart

Stocks End Slightly Lower as T-note Yields Rise

The S&P 500 Index ($SPX ) (SPY ) on Tuesday fell -0.21%, the Dow Jones Industrial Average ($DOWI ) (DIA ) fell -0.07%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell -0.04%. March E-mini S&P futures (ESH26 ) fell -0.11%, and March E-mini Nasdaq futures (NQH26 ) rose...

Barchart

Crude Prices Plunge on Hopes for a Quick End to Iran War or at least a G-7 Oil Stockpile Release

April WTI crude oil (CLJ26 ) on Tuesday closed down -11.32 (-11.94%) at $83.45, and April RBOB gasoline (RBJ26 ) closed down -0.1681 (-5.99%). April WTI crude oil on Monday rallied to a 3.75-year nearest-futures high of $119.48 but has since fallen back to the $83-per-barrel area. Crude oil prices...

The Times of India

US Navy has not escorted a tanker through Strait of Hormuz but...: White House clarifies energy secretary's deleted post

White House spokesperson Karoline Leavitt Tuesday clarified that US Navy did not escort a tanker through the Strait of Hormuz at this time but added that it remains an option that the president will utilize if and when necessary. Hours before Leavitt's press conference, US energy secretary Chris Wright claimed…

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