International oil markets experienced another day of extreme volatility on Thursday, after a message posted and subsequently deleted by U.S. Energy Secretary Jennifer Granholm triggered a wave of frantic buying and selling. The post, briefly visible on the platform X (formerly Twitter), referenced a "significant review" of strategic petroleum reserves, which traders interpreted as a signal of a potential massive release to cool prices. Brent crude, the European benchmark, fell more than 3% in a matter of minutes, before partially recovering its losses when the tweet disappeared.
This episode underscores the extreme sensitivity of commodity markets to any statement, however ambiguous, from key officials. In a context of high prices and great geopolitical uncertainty, every word is analyzed to the nth degree. A spokesperson for the Department of Energy clarified hours later that the message was posted in error and did not reflect any imminent policy decision. "The tweet was deleted because it contained a draft of internal communication that was inadvertently shared. There are no planned announcements regarding the Strategic Petroleum Reserve at this time," the spokesperson said in an official statement.
Sector analysts expressed frustration over these incidents that distort market functioning. "It is unacceptable that volatility worth tens of billions of dollars is triggered by a human error on social media. Markets need clarity and transparency, not confusing signals," stated Rebecca Jones, senior energy strategist at investment bank Bernstein. Oil prices were already under pressure this week from data showing an unexpected build in U.S. commercial inventories and persistent tensions in the Middle East.
The impact of this event goes beyond a simple daily fluctuation. It undermines investor confidence and may lead market participants to discount future official communications, making it harder for authorities to guide expectations during crises. This is not the first case of its kind; in recent years, several officials and entities have seen their social media posts, sometimes misinterpreted, cause sharp movements in currency, bond, and commodity markets. The lesson is clear: in the digital age, rigor in official communication is more crucial than ever for global financial stability.