The US will provide reinsurance covering up to $20 billion in potential losses in the Gulf region to bolster confidence among oil and gas shippers during the conflict with Iran, reported Reuters citing the US International Development Finance Corporation.
One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
US President Donald Trump has said the US navy will protect ships in the Middle East and the government will provide insurance "if necessary" in a bid to contain soaring energy prices sparked by the US-Israel war with Iran.
Oil prices turned lower in Asian trading on Tuesday as markets reacted to reports that Donald Trump had indicated to aides he was prepared to bring the conflict with Iran to an end without insisting on the immediate reopening of the Strait of Hormuz.
US President Donald Trump has said in an interview with Financial Times that he wanted to "take the oil in Iran" and could seize the export hub of Kharg Island.
Oil prices continued their upward climb on Monday, as markets focused on escalating geopolitical risks in the Middle East despite renewed assertions by US President Donald Trump that talks with Iran remain under way and could still lead to a diplomatic breakthrough.
US President Donald Trump said he was extending by 10 days a deadline linked to threatened strikes on Iranian energy infrastructure, saying the move followed a request from Tehran and that negotiations were progressing positively.
US President Donald Trump spoke to Indian Prime Minister Narendra Modi on Tuesday about the West Asia situation, including the need to secure the key energy waterway, Strait of Hormuz, that remains under an Iranian blockade. Modi reiterated India’s support for de-escalation and restoration of peace at the earliest.
US President Donald Trump said on Monday he had given orders to postpone any military strikes against Iranian power plants for five days, hours ahead of a deadline that threatened further escalation in the conflict now in its fourth week.
President Donald Trump has warned that the US would 'obliterate' Iran’s power plants if Tehran fails to reopen the Strait of Hormuz within 48 hours, prompting Iranian officials to threaten retaliatory strikes against US and Israeli energy and infrastructure assets in the region.
