India, March 11 -- Global oil markets swung both ways for a second straight day on Tuesday as mixed signals from the Trump administration about the war in Iran and security in the Strait of Hormuz caused panic among investors and energy traders.

Prices plunged after US energy secretary Chris Wright briefly posted - and then deleted - a post claiming the US Navy had escorted an oil tanker through the Strait of Hormuz, one of the world's most critical energy chokepoints. The White House later confirmed that no such operation had taken place.

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The episode added to already intense uncertainty in global markets as the conflict in West Asia entered its second week, disrupting energy supplies and escalati...