Treasury Secretary Bessent says U.S. will make 'series of announcements' to support oil trade in the Gulf

[BumRushDaShow]

Source: CNBC

Published Wed, Mar 4 2026 7:22 AM EST Updated 2 Min Ago


Treasury Secretary Scott Bessent said Wednesday Washington will roll out a series of measures aimed at stabilizing oil shipments through the Persian Gulf, signaling that the government is prepared to step in as geopolitical tensions threaten one of the world’s most critical energy corridors.

“We have a series of announcements that we’re going to be making,” Bessent said on CNBC’s “Squawk Box.” “We began yesterday with with the announcement that DFC will provide the insurance for both the crude carriers and the cargo ships operating in around the Gulf over the weekend.”

His comments come as markets remain on edge following escalating conflict involving Iran, which has heightened fears of disruptions to oil flows through the Strait of Hormuz, a narrow waterway that handles roughly a fifth of global crude shipments.

President Donald Trump said Tuesday the U.S. would provide insurance to tankers operating in the Persian Gulf to keep maritime traffic moving through the strait, helping oil prices retreat from intraday highs and stocks rebound from session lows. Trump said the U.S. Development Finance Corporation will “provide, at a very reasonable price, political risk insurance and guarantees” for the financial security of all maritime trade through the Gulf.

Read more: https://www.cnbc.com/2026/03/04/treasury-secretary-bessent-says-us-will-make-series-of-announcements-to-support-oil-trade-in-the-gulf.html

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More GRIFT.

[UpInArms]

1. Will provide insurance

Has TFG ever paid all those cities for the security they provided for his rallies?

Deadbeat Donnie isn’t known for paying up

[tanyev]

6. Hell, thousands of MAGA are still waiting for their Trump watches.

[Hugin]

2. Announcements aren't going to cut it...

The Iranians have always had an end strategy of making the strait PHYSICALLY impassable.

[Ray Bruns]

3. No matter how much insurance is provided, sunken ships cannot transport oil.

[Bluestocking]

4. China doesn't care

They’re going to buy oil from Russia.

[WSHazel]

5. The Gulf States should be paying for this

Why are we taking the financial risk? The Republicans have never met a big oil subsidy they didn’t love.

[70sEraVet]

7. Many Americans are having trouble finding affordable Homeowner's Ins.

because of climate change. But our government is going to provide affordable insurance to keep oil flowing.
Who VOTED for this?

[BumRushDaShow]

8. And many others have had to drop their health insurance

thanks to the GOP pulling MY taxpayer money from programs intended to lighten that burden, and instead fork it over to the billionaires.

[Miguelito Loveless]

9. Providing insurance for ships

will give Iran yet another weapon to hurt the US, as we not only have to pay for the war, we have to reimburse third parties for their losses.

[mike_c]

10. now honestly, what value is insurance...

...underwritten by the man who never pays what he owes, who thinks stiffing others is a virtue?

[twodogsbarking]

11. as long as the oil is ok. priorities

[Martin68]

12. LOL, what kind of announcement can "open the Strait of Hormuz?"