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Trump announces insurance for offshore oil transportation, with the Navy providing escort if necessary
GateNews
Odaily Planet Daily reports that U.S. President Trump posted on social media: Effective immediately, I have instructed the U.S. Development Finance Corporation (DFC) to provide political risk insurance and financial security for all maritime trade (especially energy) passing through the Gulf region at very reasonable prices. This will be open to all shipping companies. If necessary, the U.S. Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible. In any case, the U.S. will ensure the free flow of energy to the world. More actions are coming. Jin10 note: Following this news, Brent crude and WTI crude oil prices dropped over $2.5 in the short term.
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