US reportedly considers military protection for Hormuz tankers, Politico reports
Newsquawk Staff ·
- The administration is also considering potentially having the US government back the insurance needed for tankers to continue traveling through the strait.
- “The President is meeting with his Energy and Treasury secretaries today, and they will have more to share after the meeting".
What it means
The consideration of US military protection for tankers in the Strait of Hormuz signals a heightened commitment to securing vital energy transit routes amidst rising geopolitical tensions. This move could stabilize oil prices, particularly WTI and Brent, as it may alleviate concerns about supply disruptions, thus impacting broader risk sentiment in commodity markets.
Sources
- Ukrainian President Zelensky says Ukraine will not attack Russian ships carrying diesel for the US
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- Netanyahu’s Likud Party to be largest in Knesset, reports Channel 12 Exit Poll; no clear winner in Israeli election
- US and Russia are discussing potential postwar business deals, including JV for US oil majors off Sakhalin and resumed sales via the Druzhba pipeline, as part of wider talks to end the war in Ukraine, reports FT citing sources
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
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