Daily Market Updates: U.S. Navy helps escort some oil shipments through the Strait of Hormuz

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U.S. Navy helps escort some oil shipments through the Strait of Hormuz

Reported · Written up by our desk · Trade & Tariffs

The New York Times reports that the U.S. Navy is providing support for some oil exports traveling through the Strait of Hormuz amid heightened risks as Iran makes ship traffic perilous.

The outlet says the operation is intended to create a safer route for tankers making the dangerous journey, including by shepherding vessels through the area.

The report characterizes the effort as a way to keep certain energy shipments moving despite the increased danger in the waterway.

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NYT BusinessHow the U.S. Navy Is Helping Get Oil Through the Strait of Hormuz

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U.S. Navy helps escort some oil shipments through the Strait of Hormuz

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