(March 4): Traders were on Wednesday awaiting further details of President Donald Trump’s plan to guarantee the free flow of energy shipments through the Persian Gulf, as the shipping industry warned the proposal may struggle to restore confidence after attacks effectively shut the Strait of Hormuz. “Lives are at risk, cargoes are at risk, ships are at risk. The company currently has some ships in the Persian Gulf, and has been struggling to secure war-risk cover before they sail from the region, he said. Oil prices did pare some of their gains after Trump’s announcement on Tuesday before resuming their advance. With limited details on hand, shipowners say they were cautious about both the insurance provision and the cost.

Source: The Edge Markets March 04, 2026 15:35 UTC