The escalating Iran war has sent shockwaves through global energy markets in recent weeks, with attacks on infrastructure and shipping risks effectively disrupting traffic through the Strait of Hormuz, a chokepoint that normally carries roughly one-fifth of the world’s daily oil and LNG flows. Brent crude oil (QAM26) has climbed sharply, surging above $100 as supply fears intensify and commercial insurers pull back war-risk coverage.
In response, the U.S. government has stepped in decisively. The U.S. International Development Finance Corporation (DFC) recently launched a $20 billion maritime reinsurance program to cover losses on a rolling basis, aiming to restore confidence and get oil tankers moving again.
