US shale bosses warn they cannot replace war-hit Middle East oil
New production from Texas will take months as drillers use windfall from price rise to pay investors
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Trump says US Navy prepared to escort oil tankers in Gulf
President promises to provide insurance for vessels transiting the region as Iran conflict disrupts energy flows
FirstFT: Trump says US Navy could escort oil tankers in Gulf
Also in today’s newsletter: China prepares law curtailing minority language rights, and Pakistan urges Iran not to attack Saudi Arabia
Stocks and bonds stabilise as Middle East war widens
Oil briefly hit $85 a barrel as Iraqi production shuts down because so few tankers risk journey through Strait of Hormuz
Loveholidays poised to delay £1bn London IPO after Gulf travel chaos
Online travel agent was tipped to be the London Stock Exchange’s first significant listing of 2026