Trump is preparing to send the navy to protect oil tankers passing through the Strait of Hormuz after prices skyrocketed in anticipation of a potential war with Iran.
March 7, 2569 at 07.04:XNUMX a.m., CNBC reported that President Donald Trump is preparing to order the U.S. Navy to escort oil tankers passing through the Strait of Hormuz. Amid the escalating conflict with Iran, the world's most vital energy transportation routes have been brought to a standstill.
Over the past week, the price of U.S. crude oil (WTI) surged 28% to above $86 per barrel, while Brent crude rose 22% to $89 per barrel, following a series of Iranian attacks on oil tankers.
Analysts from Wall Street. Warnings have been issued that if the Strait of Hormuz remains closed for an extended period, oil prices could soar to over $100-120 per barrel, a level that risks plunging the global economy into a recession.
The crisis situation in the Persian Gulf was caused by...
- Many boats are stranded. Currently, more than 400 oil tankers are stranded in the Persian Gulf and unable to pass through the strait.
- Physical risksP: Despite the US offering political risk insurance measures, most ship owners still refuse to sail due to safety concerns following missile attacks and explosions in Iraqi waters.
- Production is starting to decrease. Iraq reported that it has had to reduce its oil production by 1.5 million barrels per day because its storage facilities are full and it cannot export its oil through the strait.
The challenges facing the U.S. military.
Although the Trump administration pledged to provide naval escort, strategic experts view it as a difficult mission, as the Navy must simultaneously divert its resources to military operations against Iran.
Caroline Leavitt, White House Press Secretary. specify that The Ministry of Defence and the Ministry of Energy are currently closely assessing the situation, but there is no definite timeline for when shipping lanes will be safe again.
refer : www.cnbc.com
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