1 hour ago
Last Updated:March 10, 2026, 23:39 IST
US Energy Secretary Chris Wright said this is the first such operation since the US-Israel-Iran war began on February 28
Fishermen work in front of oil tankers south of the Strait of Hormuz, offshore the town of Ras Al Khaimah in the UAE. (Image: AP/File)
Oil prices took a tumble by 15 percent on Tuesday after the United States announced that its navy safely escorted a tanker through the Strait of Hormuz, a vital energy artery effectively under the control of Iran’s Revolutionary Guards.
According to US Energy Secretary Chris Wright, this is the first such operation since the US-Israel-Iran war began on February 28. But the escort brought relief to global markets as oil prices, which were already down on Tuesday, plunged past 15 percent.
“The US Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets," Wright posted on social media.
Brent oil futures were down 15 percent at USD 84.09 a barrel after Wright reported the successful navigation of the Strait of Hormuz, which has essentially been closed from the beginning of the conflict.
The fighting in West Asia has roiled oil markets and brought many shipments of the commodity to a standstill. Nearly a fifth of global oil production passes through the key waterway.
This comes on a day that the Islamic Revolutionary Guard Corps (IRGC) vowed not to let even a litre of oil pass through during the war.
Location :
Washington D.C., United States of America (USA)
First Published:
March 10, 2026, 23:16 IST
News world US Navy Escorts Tanker Through Strait Of Hormuz, Oil Prices Plunge 15%
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