Overview
- Energy Secretary Chris Wright said escorts are not feasible now but could begin by late March, and he took responsibility for a deleted post that wrongly claimed a U.S. Navy escort; the White House confirmed no escorts have occurred.
- The U.S. Navy has declined industry requests to lead convoys through the strait because of high risks from mines, drones and missiles, even as the White House leaves escorts open as a future option.
- Iran’s new supreme leader Mojtaba Khamenei endorsed keeping the strait shut, the IRGC warned it would target any attempted escorts, and Tehran signaled selective passage for countries it deems non-hostile.
- Attacks and threats have stalled commercial traffic, with reports of more than a dozen vessels struck and widespread GPS interference, sea drones and potential mine deployment complicating any reopening.
- Governments moved to blunt the shock with an IEA‑led 400 million‑barrel stock release including 172 million from the U.S. SPR, consideration of temporary Jones Act waivers, and a U.S. reinsurance backstop for shipping, as oil and gasoline prices jump.