Gulf Shipping Insurance Promise Eases Market Fears

Markets pared earlier losses after Trump said the U.S. would provide political-risk insurance for ships through the Persian Gulf and potentially escort tankers if needed, easing fears of a major oil-supply shock from the Iran conflict; major indices closed lower, oil rose on tensions before retreating, and Treasury yields climbed as investors weigh inflation risks and a modest OPEC+ production boost that may not fully offset disruption.