US grants 30-day waiver for Iranian oil sales
NewsBytes | March 21, 2026 9:39 AM CST
Trump administration offers insurance, naval escorts for tankers
Recent attacks in the region, including strikes on tankers in the Persian Gulf, have pushed benchmark crude toward $100 a barrel and nearly stopped shipping through the vital Strait of Hormuz.
To help stabilize things (and hopefully lower prices), President Trump's team is offering insurance and naval escorts for tankers.
US Treasury Secretary Scott Bessent says these steps are part of "Operation Epic Fury" to keep global energy supplies moving and take some pressure off everyone's wallets.
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