Trump Announces Insurance for Maritime Crude Oil Transport, Navy to Escort if Necessary

Odaily News U.S. President Trump posted on social media: Effective immediately, I have directed the U.S. International Development Finance Corporation (DFC) to provide political risk insurance and financial security guarantees at very reasonable prices for all maritime trade (especially energy) passing through the Gulf region. 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 United States will ensure the free flow of energy to all parts of the world. More actions are coming. Note from Jinshi: Affected by this news, Brent crude oil and WTI crude oil fell sharply by more than $2.5 in the short term.