Administration uses naval escorts to stabilize energy markets amid Gulf escalation
President Donald Trump has ordered emergency measures to stabilize global energy prices amid an escalation in the Middle East, directing the United States Navy to protect commercial shipping. Mr. Trump said naval vessels would escort tankers through the Strait of Hormuz if necessary and at short notice.
The administration is also activating a state insurance mechanism for maritime shipments through the US International Development Finance Corporation (DFC). The agency will provide guarantees at a reasonable price for all trade routes. The measure is intended to restore logistics after private insurers refused to cover war risks in the Persian Gulf.
The decision follows threats by the Islamic Revolutionary Guard Corps (IRGC) to attack vessels associated with Washington. Iranian actions have driven a sharp rise in the cost of oil, gas, and refined products. On March 9, 2026, Brent crude briefly traded above $119 a barrel, marking its highest level since 2022.
The president said market conditions had begun to stabilize but pledged further measures to relieve pressure on oil prices. "Further action to reduce pressure on oil is imminent, and the oil seems to have pretty much stabilized," Mr. Trump said. Earlier, analysts at Goldman Sachs warned that if the strait remained effectively blocked, crude could reach $150 a barrel.