Brent crude is largely unmoved by Trump’s announcement of the operation, dubbed Project Freedom. Published On 4 May 20264 May 2026Oil prices are largely unmoved following United States President Donald Trump’s announcement that the US will guide stranded vessels out of the Strait of Hormuz.Brent crude, the international benchmark, was essentially flat on Monday morning, as traders saw little hope of Trump’s plans resolving the biggest energy disruption in history.Recommended Stories list of 4 itemsend of listBrent futures for July stood at $108.11 as of 05:00 GMT, down 0.06 percent.Trump said on Sunday that the US would “help free up” vessels stranded in the Gulf from Monday, but offered few details on how the operation, dubbed “Project Freedom”, would work.Trump did not specify whether the plan would involve escorts by the US Navy, a proposal previously shot down by administration officials, who cited the need to make further preparations for such operations.Senior Iranian officials have signalled that Tehran will not cooperate with Trump’s plan, casting further uncertainty over the fragile ceasefire in place between the sides since April 7.Ebrahim Azizi, the head of the Iranian parliament’s National Security Commission, on Sunday warned that any “American interference” in the strait would be considered a breach of their truce.On Monday, the United Kingdom’s military said it had received reports of a tanker being struck by “unknown projectiles” off the coast of the United Arab Emirates, hours after a bulk carrier reported being attacked by multiple small craft off Iran.Neither of the crews involved in the incidents was harmed, according to UK Maritime Trade Operations (UKMTO). Advertisement June Goh, a senior oil market analyst at Sparta in Singapore, said Trump’s plans appeared to be geared more towards rescuing stranded seafarers than restoring maritime traffic in the strait.“Global obs …
