Washington: U.S. President Donald Trump has announced that the U.S. Navy will escort tankers through the Strait of Hormuz "if necessary," amid escalating concerns regarding the impact of the U.S.-Israel conflict with Iran on oil shipments in this crucial waterway.

According to Yonhap News Agency, Trump's statement was made in a social media post as the U.S. military operation against Iran, dubbed "Operation Epic Fury," entered its fourth day. This operation has intensified worries about disruptions to shipping through the strait, responsible for approximately 20% of the world's oil supply. Trump emphasized the readiness of the U.S. Navy to ensure the continuous flow of energy, stating that the escort of tankers would commence "as soon as possible" if deemed necessary.

Trump further declared an immediate directive for the U.S. Development Finance Corporation to offer political risk insurance and guarantees for the financial security of all maritime trade, particularly energy shipments, traversing the Gulf. He assured that these services would be made available to all shipping lines, aiming to safeguard maritime shipping amidst Iranian threats during the ongoing military operation.

During a press briefing at the White House, Trump expressed his expectation that oil prices would decrease once the military operation against Iran concludes. He acknowledged the potential for temporarily higher oil prices but predicted a significant drop in prices following the operation's end, potentially reaching levels lower than before.