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Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran.
Oil prices plummeted after Energy Secretary Chris Wright erroneously posted — and then deleted — a message that the US 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 US military was “drawing up additional options” to address any attempt by Iran to constrain trade through the vital artery.
Later Tuesday afternoon, President Donald Trump posted his own flurry of messages on social media. First, Trump insisted the US had “no reports” of mines being placed, but then urged Iranian forces to remove any explosives they may have laid.
Next, Trump said the US was “using the same Technology and Missile capabilities deployed against Drug Traffickers” to target mining ships. Minutes later, the president reported that the US had “hit, and completely destroyed, 10 inactive mine laying boats” and promised “more to follow.”
Today's show features:
- Kevin Gordon, Schwab Head of Macro Research & Strategy as markets digest a flurry of geopolitical headlines
- Bloomberg Balance of Power Co-host Joe Mathieu as the White House says the US Navy has not escorted a tanker through the Strait
- Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech on Apple's new $599 MacBook Neo
- Anurag Rana, Bloomberg Intelligence Senior Technology Analyst on Oracle's blockbuster earnings report
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