Venture capital company: The support provided by the United States for oil tankers in the Hormuz Strait will take time.

With the continued closure of the Strait of Hormuz exacerbating concerns that more production capacity in the region will be shut down, crude oil futures are gaining momentum. Jay Truesdale, CEO of risk consultancy TD International, said that proposals for insurance support from the U.S. International Development Finance Corporation and naval escort to protect ships passing through the strait will take time and may not be enough. He said, "Security risks must be properly underwritten and priced, as required by any insurance company." U.S. escorting can be effective, especially for ships flying the U.S. flag, "but the volume of shipping through the strait is so large that escorting cannot provide individual ship protection." West Texas Intermediate crude rose 6.4% to $79.47 per barrel. Brent crude rose 3.8% to $84.53.