Just paste the plain link, and it will be embedded:
Pictures:
https://instagram.com/p/2OvB6miHtR/
gives:
https://instagram.com/p/2OvB6miHtR/
Videos too!:
https://instagram.com/p/7pygxOiHpu/
gives...
https://instagram.com/p/7pygxOiHpu/
UPDATED. (See above)