The Trump administration is considering military protection for oil tankers in the Strait of Hormuz as energy prices surge following Iranian threats to attack vessels in the strategic waterway, according to Politico. The discussions involve providing military support for oil and gas shipments through the critical passage, which handles a significant portion of global petroleum exports.

Energy markets face mounting pressure as the military campaign in the region intensifies, with U.S. oil prices climbing nearly $10 per barrel since last week. The strait remains technically open, but marine insurers are raising rates and canceling coverage for vessels passing through the area. Qatar and Saudi Arabia depend heavily on this route for their energy exports.

The Pentagon is reportedly exploring a maritime mission similar to previous operations in the Red Sea, where U.S. carriers and destroyers protected freedom of navigation amid threats from Iranian-linked groups. The administration is also examining whether the U.S. government should back insurance for tankers continuing through the strait.