**[Bessent: U.S. Insurance Plan for Hormuz Strait Shipping Set to Launch]** BlockBeats News, March 27, according to Bloomberg, U.S. Treasury Secretary Scott Bessent stated that a U.S. insurance plan aimed at facilitating shipping through the Hormuz Strait is set to launch soon. This move could help restore the flow of the majority of global oil and natural gas supplies. Bessent made this prediction on Thursday during a presidential cabinet meeting at the White House. This comes just weeks after former President Trump first announced that the U.S. International Development Finance Corporation would provide insurance guarantees and deploy naval escorts to ensure the safe passage of oil tankers and other vessels through the strait. Bessent's remarks come at a time when concerns over soaring oil and natural gas prices during the Iran war are intensifying, and fears persist that energy supply shocks will continue even after the conflict ends.