Oil prices have fluctuated for a second consecutive day as the Trump administration's comments about the war in Iran cause uncertainty. Energy Secretary Chris Wright initially posted a message that the U.S. Navy had escorted an oil tanker through the Strait of Hormuz, but White House Press Secretary Karoline Leavitt subsequently conceded that no such operation had occurred. Later, President Donald Trump posted a flurry of messages on social media, including a claim that the United States was using its "technology and Missile capabilities" to target mining ships. The conflict has spread across the Middle East and has pushed the region's energy giants to a crisis point. Retail gasoline and diesel prices have surged globally, becoming an election-year vulnerability in the US. The International Energy Agency proposed the largest release of reserves in history to tackle high prices.