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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.
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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.
·India
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US says it will escort ships in the Strait of Hormuz ‘soon’
The US energy secretary said on Friday the US Navy was preparing to escort ships through the Strait of Hormuz “as soon as it’s reasonable to do it,” as traffic through the key trade route remains strangled due to the US-Israel war on Iran.
·South Africa
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Total News Sources29
Leaning Left4Leaning Right7Center4Last UpdatedBias Distribution46% Right
Bias Distribution
- 46% of the sources lean Right
46% Right
L 27%
C 27%
R 46%
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