Morning Briefing Europe

Oil Jumps Again as US Escort Plan for Hormuz Fails to Bring Calm

Cargo ships in the Strait of Hormuz in February.
*Photographer: Giuseppe Cacace/Getty Images*

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By Nasteho Said

March 4, 2026 at 6:36 AM UTC

Good morning. Oil prices rise as Donald Trump’s plan to escort and insure tankers in the Strait of Hormuz fails to bring calm. Blackstone executives chip in $150 million for fund redemption payments. And FIFA is in high spirits about the World Cup despite chaos in Iran. Listen to the day’s top stories.