Can't create hyperlinks

Greetings,
I have a weird problem that should be a fundamental thing to have working. I am trying to create posts in wordpress, and no matter if I use the link button on the editor or manually insert a link via HTML, it only shows on my published post as text, with no link on hover. What’s even stranger, the post displays correctly when I preview it, just not when actually published.

Any ideas what could be happening?

Thanks