Oil Rises Despite U.S. Escort Plan Through Hormuz -- Market Talk
Dow Jones03-04 15:33
0733 GMT - Oil prices extend gains as the Middle East conflict enters its fifth day, with President Trump saying the U.S. will provide insurance guarantees and naval escorts for tankers transiting the Strait of Hormuz. "This is welcome news, but clearly it won't happen overnight," analysts at ING say. "Naval escorts will be sitting ducks to Iranian attacks." In early trading, Brent crude gains 3.1% to $83.92 a barrel, while WTI is up 2.4% to $73.62 a barrel, driven by growing concerns over oil flows through the strait and attacks against key energy infrastructure curbing production. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
March 04, 2026 02:33 ET (07:33 GMT)
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