President Donald Trump has said the US will offer insurance backstops and potential naval escorts for ships transiting the Strait of Hormuz. Here's what to know about the key waterway https://t.co/cHBPypjcTe ...

VONNIE: LIVE FROM LONDON, THIS IS BLOOMBERG DAYBREAK: EUROPE. I’M VONNIE QUINN WITH YOUR TOP STORIES. MARKETS MELTING DOWN IN ASIA WITH KOREA CRASHING THE MOST SINCE 2008.EUROPEAN FUTURES POINTING TO FURTHER LOSSES. OIL EXTENDING GAINS DESPITE THE U.S. PROMISING NAVAL ESCORTS IN THE STRAIT OF HORMUZ. PRESIDENT TRUMP THREATENS TO CUT OFF ALL TRADE WITH SPAIN AFTER IT DENIES A U.S. ACCESS TO MILITARY BASES FOR THE WAR IN IRAN.U.S. PRESIDENT ALSO RAMPING UP CRITICISM OF THE U.K. OVER THE USE OF BRITISH AIRBASE ...

Very interesting announcement from the president yesterday, saying that the US are looking to provide naval escorts and to lower insurance costs for any vessels and tankers looking to pass through the Strait. And as we've been talking about, the Strait has effectively been closed because tankers vessels are opting not to use it over concerns, over safety and also cost as well. Just to give you an idea of costs Vonnie.Back on Friday, if you wanted to hire a super tanker that would deliver your oil to China w ...