Trump Says US Will Escort, Insure Oil Tankers Amid the Iran War [Yahoo! Finance Canada]
Free Flow Inc (FFLO)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg “No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” the president posted on social media. Oil prices pared gains briefly on the news, with global benchmark Brent trading near $80 a barrel after settlement. While the latest measures knocked out some of the risk premium in energy markets, traders remain skeptical that it will allow oil flows to return to normal levels through the critical passageway quickly. Prices have surged more than 10% since the US and Israel began attacks on Iran over the weekend, triggering widespread disruptions in the Middle East and effectively bringing oil flows through the critical Strait of Hormuz, through which a fifth of the world's energy supplies transit, to a halt. Trump's post did not elaborate on the insurance mechanism to be offered by the DFC, an institution that generally exists to mobilize private capital to developing nations and lower risks for investments in poor countries.
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News
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- Trump Pledges Safe Mideast Oil Transit as Iran War Rages On [Yahoo! Finance Canada]Yahoo! Finance Canada
- Trump Pledges Safe Mideast Oil Transit as Iran War Rages On [Yahoo! Finance]Yahoo! Finance
- South Korea's Kospi plunges 8% amid selloff in the region as Middle East war escalates [MSNBC.com]MSNBC.com
- Asia stocks fall for third day, oil steadies as investors watch Iran war [Yahoo! Finance]Yahoo! Finance