The oil market has calmed after President Donald Trump said the U.S. would insure tankers and provide naval escorts if necessary.
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Oil prices fell Wednesday for the first time since the U.S. launched its war against Iran, after Treasury Secretary Scott Bessent said the Trump administration will provide support to oil tankers transiting the Persian Gulf and announce more measures in the coming days.
U.S. crude oil
fell 82 cents, or 1.1%, to $73.74 per barrel by 8:18 a.m. ET. Global benchmark Brent
was down 57 cents, or 0.7%, to $80.83.
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