WASHINGTON, United States, March 6, 2026 (BSS/AFP) - US President Donald Trump on Thursday said his government would soon take action to "reduce pressure on oil," after prices spiked due to the US-Israeli war on Iran. "Further action to reduce pressure on oil is imminent and the oil seems to have pretty much stabilized. He referenced having earlier taken "decisive action" by "offering political risk insurance for tankers transiting into the Gulf." On Tuesday, Trump ordered the US Development Finance Corporation to provide political risk insurance for all maritime trade through the Gulf. He said the US Navy would "if necessary" begin escorting tankers through the Strait of Hormuz "as soon as possible."

Source: Bangladesh Sangbad Sangstha March 06, 2026 10:21 UTC