(March 11): World governments stepped up efforts to calm energy markets as the effective closure of the Strait of Hormuz, a pivotal supply route, showed no sign of ending and Iran continued attacks across the region. Still, those discussions and US President Donald Trump’s assertion earlier this week that the US is close to achieving its military goals have eased the surge in energy prices. A day earlier, energy markets whipsawed amid rapidly shifting comments from the Trump administration over the war. 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. US lawmakers showed deep partisan division on the war on Tuesday, as senators left a classified briefing with Pentagon officials.

Source: The Edge Markets March 11, 2026 09:06 UTC