Trump Pledges U.S. Navy Escort for Tankers Crossing Hormuz


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. President Donald Trump pledged on Tuesday (3/3) 
U.S. navy protection for oil tankers needing to cross the Strait of Hormuz 
after Iran effectively shut the major waterway for petroleum shipments amid its 
war with the United States and Israel.

   "If necessary, the United States Navy will begin escorting tankers through 
the Strait of Hormuz," the president said in a post on his Truth Social media 
platform, pledging U.S. support to ensure free flow of energy.

   Tanker traffic through the Strait of Hormuz remained paralyzed Tuesday as 
Iran warned vessels to avoid the vital chokepoint. The move follows missile 
strikes on at least five commercial ships since the conflict began.

   Charter rates for crude and fuel oil tankers soared to record highs as 
hundreds of vessels remained stranded. The blockade continues to threaten a 
fifth of the world's seaborne petroleum trade




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