Oil prices declined by more than $1 per barrel on Monday, following an announcement by U.S. President Donald Trump that the United States would launch an effort on Monday morning to free ships stranded in the Strait of Hormuz.
اضافة اعلان
Market Snapshot
By 22:03 GMT, the market figures were as follows:
Brent Crude: Down $1.83 (1.69%), trading at $106.34 per barrel.
WTI (U.S. Crude): Down $1.72 (1.69%), trading at $100.22 per barrel.
"Project Freedom" and Neutral Parties
In a post on his "Truth Social" platform late Sunday evening, President Trump stated that countries from across the globe—many of which are not involved in the ongoing Middle East conflict—had requested American assistance to free their vessels currently stuck in the Strait of Hormuz. He described these nations and their crews as "neutral and innocent parties" with no connection to the current hostilities.
Trump added that the U.S. has notified these countries that American forces will work to guide their ships safely out of the restricted waterways. This process, which he referred to as "Project Freedom," is designed to allow these vessels to resume their operations "freely and efficiently."
"For the good of Iran, the Middle East, and the United States, we have told these countries that we will guide their ships safely out of these restricted waterways... this process will begin Monday morning, Middle East time." — Donald Trump
The President concluded by noting that he has directed his representatives to inform these nations that Washington will do everything within its power to ensure the safe passage of the ships and their crews through the strait.
Source: Reuters
