US Says to Escort Ships in Strait of Hormuz 'Soon'
The U.S. Navy will escort commercial tankers to secure the Strait of Hormuz amid Gulf tensions, where a fifth of global crude oil passes, after traffic nearly halted, analysts said.
- On Friday, Chris Wright, US energy secretary, said 'As soon as it's reasonable to do it, we'll escort ships through the straits and get the energy moving again' as the US Navy prepares to escort tankers in the Strait of Hormuz, following President Trump’s Tuesday statement.
- A US-Israel war launched a week ago and Tehran's strikes across the Gulf region have driven crude prices higher, with tankers seen off Fujairah on Mar. 3 amid Iran's vow to fire on ships.
- On Thursday, JP Morgan said commercial traffic through the Strait of Hormuz fell to near zero and was largely limited to Iranian vessels, while average US gasoline prices rose about 11 percent last week.
- Officials balanced market reassurance with sanctions policy language as Fatih Birol, IEA chief, said there is plenty of oil while Wright said pump prices could ease in weeks, not months.
- Rising crude and higher pump prices point to possible inflationary spillovers as about a fifth of the world's crude and liquefied natural gas transits the Strait, raising average US gasoline prices about 11 percent last week.
29 Articles
29 Articles
Iranian army threatens US over Strait of Hormuz
Iran’s Defense Ministry confirmed on Saturday that its strategic munitions had been secured previously, emphasizing its capability to continue the confrontation to the furthest extent. Regarding America’s statements that it would escort ships through the Strait of Hormuz, the ministry said: “Any hostile vessels that enter the strait will end up at the bottom of this waterway.” US Energy Secretary Chris Wright said that the US Navy would begin es…
Trump is promising naval escorts to keep oil moving through the Strait of Hormuz, but here's why shipping companies aren't convinced
President Trump has promised that naval escorts and government-backed insurance will keep oil moving through the Strait of Hormuz. But shipping companies and sailors are not buying it. Iran’s direct threat to target ships in the region is far more powerful than any government promise. On one recent day, not a single tanker passed through the Strait of Hormuz. This narrow channel near Iran’s southern coast normally sees 60 or more ships carrying …
Iran Challenges U.S. Naval Escort in Tense Hormuz Waters
Iran’s Revolutionary Guards have challenged U.S. President Donald Trump to escort oil tankers through the Strait of Hormuz. The U.S. may escort tankers as Middle East conflicts disrupt shipments. A spokesperson referenced historical attacks to caution the U.S. against actions in the critical waterway.
The Korea Times
US says to escort ships in Strait of Hormuz 'soon'
WASHINGTON — The U.S. energy secretary said Friday the U.S. Navy was preparing to escort ships through the Strait of Hormuz "as soon as it's reason...
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