The narrow Strait of Hormuz handles a fifth of the world’s oil shipping

President Donald Trump said Tuesday the US Navy would escort oil tankers through the Strait of Hormuz if needed amid the Iran war. He has also ordered his government to provide insurance for shipping.

“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” Trump said on his Truth Social platform.

The Strait of Hormuz, which is only 24 miles wide, handles about a fifth of the world’s oil shipments. Iran said on Saturday it was closing it and it would hit any shipping that tried to pass through. The announcement caused oil prices to spike.

Trump’s vow to escort tankers, if necessary, came as media reported that an Iranian drone had hit a building housing the US consulate in Dubai. A fire broke out but no one was injured.

Drones also hit the US embassy in Riyadh, Saudi Arabia, early on Tuesday and the US embassy in Kuwait on Sunday.