BREAKING: The Trump Administration announces $20 billion reinsurance program for oil tankers and other vessels moving through the Strait of Hormuz. Details include: 1. The US DFC will insure losses up to $20 billion on a rolling basis 2. The US DFC and Treasury Department will be coopering with CENTCOM on the program 3. Priority is to get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz Currently, ~20% of global oil supply is offline.(The Kobeissi Letter)