Trump: US Navy to Escort Oil Tankers Through Strait of Hormuz Amid Iran War

• US President Donald Trump announced the US Navy will escort oil tankers through the Strait of Hormuz if necessary.
• The move aims to ensure the free flow of energy to the world amid escalating concerns over supply disruptions due to the Iran conflict.
• Trump directed the United States Development Finance Corporation (DFC) to provide political risk insurance and financial guarantees for maritime trade in the Gulf.
• World oil prices surged, with Brent crude topping $85 a barrel, and European natural gas prices rose, fueling inflation fears.
• The Strait of Hormuz, handling a fifth of global oil shipments, is effectively closed due to US/Israeli strikes and Iranian retaliation.