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Tue, 03 Mar 2026

Tue, 03 Mar 2026 Trump says US Navy will protect ships in Middle East 'if necessary'

The US President said he was taking steps to keep energy supplies flowing as oil and gas prices continued to surge.

* The US Navy will protect ships in the Middle East if necessary, according to President Trump.
* The US government will provide risk insurance at a "very reasonable price" for shipping firms to ensure the free flow of energy.
* Oil and gas prices have surged due to Iran's threats to set fire to ships passing through the Strait of Hormuz.
* Approximately 200 crude oil and product tankers are stranded in the Gulf, according to data from Lloyds List Intelligence.
* The US has pledged military escort if necessary, but experts warn this may not be enough to ease companies' concerns.
* Insurance companies have increased prices for policies covering ships in the region.
* Trump's announcement led to a temporary drop in oil prices, but analysts warn of potential long-term effects.