US Military to Escort Ships Through Strait of Hormuz Amid Iran Tensions
President Trump announced the U.S. will soon begin escorting vessels through the Strait of Hormuz as geopolitical tensions drive crude oil prices higher. Brent crude climbed 2.68% to $103.14 per barrel on Friday following the announcement. The strategic waterway handles approximately one-fifth of global oil shipments, making security concerns a critical factor for energy markets worldwide. Trump's administration issued a temporary waiver for Russian oil purchases while simultaneously targeting Iranian military infrastructure, creating market volatility. The administration destroyed military targets on Kharg Island, which handles 90% of Iran's oil exports, but preserved oil infrastructure. Trump warned of immediate reconsideration if Iran interferes with strait passage.
Saturday, March 14, 2026 at 10:00 AM
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