Oil prices have risen slightly after plunging more than 11% due to concerns about potential disruptions caused by the Middle East war. Despite aggressive rhetoric from U.S. President Donald Trump and Defense Secretary Pete Hegseth about attacking Iran, oil prices fell by over 17% after a false claim by Secretary of Energy Chris Wright that the US Navy had escorted a tanker through the Strait of Hormuz was later deleted. Despite this, West Texas Intermediate Crude was up 0.35% at $83.76 a barrel and Brent crude was flat at $87.8 a barrel. The Strait of Hosburg is crucial for most global oil supply, but Iran has sent at least 11.7 million oil barrels to China through the waterway since the war began.