“No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” Trump added

A prolonged closure of the Strait of Hormuz, a critical transit route for global crude, could lead to a 1970s-style energy shock.

The US President said he was taking steps to keep energy supplies flowing as oil prices continued to surge.

The president also said he was offering government-backed risk insurance for ships passing through the Gulf region

“No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” Trump added

Here are five key things investors need to know to start the trading day.