U.S. Defense Production Act floated to force US insurer to cover Hormuz passage
To assist with his plan to reopen the Strait and keep oil price down, Trump is thinking about a fee-based naval escort scheme while using The Defense Production Act to force U.S. insurer to provide coverage. Oil continues to trade lower on optimism while equities perform individually.
AUD/USD is trading 0.07% lower at 0.7062.