Just now heard that the United States Navy will be escorting ships through the straits.
Not sure how long it’s gonna take for oil prices to drop,,, if at all.
I don’t know why this wasn’t a thing before.

It's the insurance companies that have the ship owners by the short hairs....if anything was to happen, insurance won't pay...big gamble to take...so escort or not, the owners won't take that gamble...

I read about all shipping insurance is base on the UK and thats one way they stay relevant. I think Trump had a plan for the US to cover insurance making them no longer as important. It was a basic article and I didn't check sources.

Ty for a great explanation

Why was the US blocking it in the first place? Some gov guy just said on Fox News that the US was always in total control of the straight…..lol
What a joke.

I watch and listen to content from Matt Randolph, a midwest oil operator and founder of Sentinel Energy, he's also an energy analyst for Forbes. Anyhoo, according to his takes, it isn't coming down anytime soon, like late August at best for anything significant. I'm going to go with him on that one as he has been bang on pretty much every time with predictions as to what was coming down the pipe, the latest major jump in gas for example. I managed to get all our vehicles and cans filled up the day before thanks to him. His podcast "American Power" is the #1 podcast on Energy and Geopolitics.

I'm sure many here would discard the info though as a lot of what he says is critical of the administration.

The US was just blockading Iranian ships and ships going to Iranian ports, basically to starve them out.....Other ships could run the straight if they wanted too but won't risk it without the insurance from the British companies that control it.....As long as the Iranians CLAIM they can attack shipping, even if they can't, no one will gamble their cargo....

And supposedly Iran put mines in the strait

The UK are a dominant insurer, but account for about 40% of ships. I wouldn't exactly call that control.

control or not, the point is without insurance stuff ain't gonna move

You cant even pull a ship into ports if they are not insured. Again just from articulate i read i have no first hand knowledge on th subject.

So for this asking why we are blocking Iran from shipping. Its costing them an estimated 500 million a day in lost oil revenues alone. They will run out of storage soon and they will be forced to start shuting down wells. When that happen tose well may never be able to start back up and if they do will have greatly reduced output. Permanently damaging there abilities to produce.

Thats just the oil part of the equation. Think about how nothing going in or out of the ports is effecting the rest of the economy in addition to the lost oil revenues. Iran is hurting regardless of the hard line they try to push and the media acts like.