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A DELETED TWEET, A 17 PERCENT OIL CRASH, AND A WAR WITH NO EXIT PLAN

A single social media post from the US Energy Secretary moved global oil prices more than the entire Pentagon briefing did.

On Tuesday, Brent crude was already falling after President Trump told CBS News he believed "the war is very complete." Then Energy Secretary Chris Wright posted on X that the US Navy had "successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets."

The sell-off accelerated. Traders read it as confirmation that the strait was reopening. Oil plunged 17 percent, dipping below $80 per barrel for the first time since the war began, according to the Wall Street Journal.

Then the post disappeared. Wright deleted it. Fox News national security correspondent Jennifer Griffin reported that her military sources confirmed no escort had taken place. White House Press Secretary Karoline Leavitt later said the US "has not escorted a tanker vessel at this time," according to CNBC.

By early Wednesday, Brent crude had partially recovered to below $85 a barrel, according to Al Jazeera. That is still roughly 17 percent higher than the $70 it sat at before the first US-Israeli strikes on February 28, according to the Associated Press.

HOW ONE TWEET EXPOSED THE FRAGILITY

Approximately 15 million barrels of crude pass through the Strait of Hormuz daily under normal conditions, roughly 20 percent of global supply, according to Rystad Energy data cited by the Associated Press. That flow has been effectively shut since February 28.

Iraq, Kuwait, and the UAE have cut production because they have nowhere to store oil they cannot export. Kuwait declared force majeure, according to Reuters. Macquarie Research has warned that if the blockade persists for a few more weeks, crude could surge past $150 per barrel, according to AP.

IN WASHINGTON, SENATORS ARE ASKING WHERE THIS WAR ENDS

On the same day global oil markets were convulsing, US Senator Richard Blumenthal walked out of a classified Senate Armed Services Committee briefing on the Iran war and told reporters he was "dissatisfied and angry."

"I am left with more questions than answers, especially about the cost of the war," Blumenthal said, according to Al Jazeera. "My primary worry is the risk to American lives if our children are deployed on the ground in Iraq. We appear to be heading toward sending American troops to Iran."

Senator Elizabeth Warren pointed to the financial dimension. The Pentagon burned through approximately $5.6 billion in munitions alone during the first two days of the war, according to an estimate sent to Congress. "While there is no funding for 15 million Americans who lost their healthcare," Warren said, according to Al Jazeera, "there's a billion dollars a day available for bombing Iran."

Senator Jacky Rosen said what she heard in the briefing was "not just concerning" but "unsettling." She added: "I am uncertain about the endgame or their plans. They certainly have not made their case."

Democrats have collectively agreed to employ procedural tactics to obstruct normal Senate business until administration officials testify under oath about the war, according to Senator Cory Booker, as reported by Al Jazeera.

THE PENTAGON SAYS IT IS WINNING

Defense Secretary Pete Hegseth and General Dan Caine of the Joint Chiefs held a press conference Tuesday declaring the campaign was "winning decisively," according to the New York Times.

Hegseth said Tuesday saw "our most intense day of strikes." Over 5,000 sites have been targeted in the first ten days, according to the Pentagon. Iran launched its fewest missiles in the past 24 hours, which Hegseth characterized as evidence that Iranian capability has been "severely degraded."

Seven US soldiers have been killed since the war began on February 28. About 140 have been wounded, according to the Pentagon. Of those, 108 have returned to active duty. Eight were described as severely injured.

Hegseth offered no timeline. Trump has sent mixed signals, telling CBS News on Monday that "the war is very complete," then saying operations would persist "until the enemy is totally and decisively defeated," according to Al Jazeera.

A FILIPINO SEAFARER IS MISSING IN THE STRAIT

On the Philippine side of this war, the human cost now has a name.

George Francis Miranda, a 46-year-old motorman and oiler from Capalonga, Camarines Norte, was reported missing after two missiles struck the UAE-flagged tugboat Mussafah 2 in the Strait of Hormuz on March 6, according to ABS-CBN News. The tugboat had been deployed to assist a container ship stranded in the strait after an earlier attack. Miranda's family said he last communicated on March 5, when he sent a video message for his 7-year-old child.

More than 400 OFWs have been repatriated since the crisis began, according to the Department of Migrant Workers. Over 1,400 in the region have requested to come home. Filipino seafarers can now refuse to sail through designated war-risk zones under a ruling by DMW Secretary Hans Leo Cacdac, according to the Inquirer.

Philippine fuel prices continued to climb. Diesel went up by as much as P24.25 per liter this week, gasoline by up to P13, and kerosene by as much as P38.50, according to GMA News.

Two weeks in. The strait is still shut. The tweet about reopening it lasted less than an hour.

SOURCES

  1. Al Jazeera, https://www.aljazeera.com/economy/2026/3/11/oil-prices-swing-wildly-amid-mixed-messages-over-iran-war
  2. Associated Press, https://apnews.com/article/markets-oil-iran-trump-war-brent-72e8c9a29c2ba1fd761ee968f3d4e553
  3. New York Times, https://www.nytimes.com/2026/03/10/world/middleeast/us-iran-war-strikes-pentagon.html
  4. Al Jazeera, https://www.aljazeera.com/news/2026/3/10/democrats-say-white-house-still-giving-no-clarity-on-iran-war-after-eleven-days
  5. PBS NewsHour, https://www.pbs.org/newshour/politics/watch-u-s-seems-on-a-path-to-deploying-ground-troops-in-iran-blumenthal-says-after-classified-briefing
  6. Wall Street Journal, https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-03-10-2026/card/u-s-escorted-tanker-through-strait-of-hormuz-energy-secretary-says-vkFD4mgUKFyJdo9V3xu3
  7. Barron's, https://www.barrons.com/news/us-energy-secretary-s-post-saying-us-escorted-tanker-in-hormuz-deleted-7149bfe5
  8. NBC News, https://www.nbcnews.com/world/iran/live-blog/live-updates-iran-war-oil-prices-trump-hormuz-israel-rcna262670
  9. ABS-CBN News, https://www.abs-cbn.com/news/world/2026/3/10/family-says-filipino-seafarer-missing-after-tugboat-attack-in-strait-of-hormuz-1038
  10. Inquirer, https://globalnation.inquirer.net/313081/dmw-seafarers-may-refuse-sailing-in-war-risk-zones
  11. GMA News, https://www.gmanetwork.com/news/money/companies/979276/oil-price-hike-march-10-2026/story/
  12. CNBC, https://www.cnbc.com/2026/03/08/iran-war-energy-prices-wright.html
  13. CSIS, https://www.csis.org/analysis/iran-conflict-sending-oil-prices-soaring-what-happens-next
  14. Reuters, https://www.reuters.com/business/energy/oil-falls-us-may-intervene-futures-market-issues-waiver-russian-purchases-2026-03-06/
  15. Department of Migrant Workers (PNA), https://www.pna.gov.ph/articles/1270449
  16. ABC News, https://abcnews.com/Politics/pentagon-now-approximately-140-us-troops-wounded-10/story?id=130943530
  17. The Hill (via Facebook), https://www.facebook.com/TheHill/posts/1288072263181192
  18. Daily Guardian, https://www.facebook.com/DailyGuardianPH/posts/1354507376706042
  19. BusinessWorld, https://www.bworldonline.com/the-nation/2026/03/09/735116/over-400-filipinos-returned-home-amid-middle-east-war-dmw-says/
  20. Yahoo Finance / Democrats Senate, https://finance.yahoo.com/news/democrats-vow-stall-senate-until-020455557.html