Oil Extends Advance as Traders Weigh US Escort Plan for Hormuz [Yahoo! Finance]
Free Flow Inc (FFLO)
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Source: Yahoo! Finance
traders weighed a US plan to insure and escort tankers passing through the Strait of Hormuz, with traffic in the vital waterway all but halted. West Texas Intermediate rose above $75 a barrel after rallying 11% over two days, the biggest gain in four years. Brent closed near $81. President Donald Trump said on Tuesday that the US International Development Finance Corporation would offer insurance to vessels to help ensure the flow of energy and other trade, providing a naval escort “if necessary.” Most Read from Bloomberg Minneapolis Braces for Rent Crisis As ICE Surge Winds Down NYC Hudson Yards-Area Apartment Tower Sells for $129 Million Adding Up What Urban Highways Really Cost Supreme Court Preserves NY GOP-Held Congressional District NYC Congestion Pricing Program Can Continue, US Judge Rules The US move follows signs of mounting disruption for producers in the region from the closure of the waterway. Iraq — the second-biggest OPEC producer — has begun closing the
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