With oil markets paralyzed by the U.S.-Iran war, the Trump administration says it could escort ships through the Strait of Hormuz — a massive undertaking that experts say could already be in the preparatory stages.

The White House believes tanker traffic through the Strait of Hormuz will increase before Navy escorts are deployed, Treasury Secretary Scott Bessent said.

“Numerous countries have told me they’re on the way,” says U.S. president.

U.S. allies and rivals responded cautiously after President Donald Trump said they should police the Strait of Hormuz, as Iranian threats to strike shipping on the vital trade route continue to cause chaos in global markets.

By Bo Erickson and Humeyra Pamuk WASHINGTON, March 16 (Reuters) - President Donald Trump on Monday repeated his call to nations to help unblock the Strait of Hormuz, and complained that some were not very enthusiastic about providing help to Washington.

The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.

March 15 (Reuters) - U.S. President Donald Trump warned NATO of a “very ⁠bad” ⁠future if allies do not help open ⁠up the Strait of Hormuz and said he may also delay a planned summit ​with Chinese President Xi Jinping, in comments published by the Financial Times on Sunday.

Oil futures finished sharply lower Monday, with U.S. prices down by more than 5%, as traders continued to weigh developments in the Iran conflict.