Crude oil falls about 2% after Trump halts Project Freedom in the Strait of Hormuz

[ad_1]

Oil prices fell on Tuesday after President Donald Trump stopped the initiative initiative initiative initiative. Brent crude fell by 1.81% to $107.88 per barrel while West Texas Intermediate fell by 1.72% to $100.51.

The sale extended to all energy sources, where natural gas fell by 0.67% to 7, and gasoline decreased by 0.93% to 3.59 dollars, while heating oil lost 1.3 billion dollars.

Why did Trump stop the freedom project?

Trump confirmed the end of the project through a manifesto on social truth. ذكر إحراز ترجد نائرة عرض وتعلب pakistan و دول عرض بسينام التوبكب لا إلى التبريق.

Trump wrote that “based on the demand of Pakistan and other countries, and the military success of these militants during the campaign against the state of Iran, in addition to the fact that significant progress has been made towards reconciliation with the representatives of Iran, we have all agreed… that the project of freedom will be brought together on… the time to see if it is possible to conclude the agreement and sign it”.

The president confirmed that the US naval embargo on Iranian ports will remain “in effect for the time being”. however, it was reported that Iranian officials objected to Trump’s account.

Follow us on X to get the latest news as it happens

🚨An Iranian official told me that Trump’s publication is “full of falsehoods” and his operation to “liberate” the Strait of Hormuz “has completely failed.”

“We will not participate in direct negotiations until the United States has formally announced the end of the blockade,” the official said. https://t.co/AHpO3hgjw8

— jeremy scahill (@jeremyscahill) May 5, 2026

The retreat happened shortly after the start of the process. The BeInCrypto website previously reported that the project of freedom was designed to transport the ships of Al-Amhaida Al-Amhaida Al-Amhaida Al-Amaziyah.

The American Central Command (CENTCOM) supported the mission with guided missile destroyers, more than 100 missiles and unmanned platforms, and 15,000 soldiers.

Teheran objected since day one. The Iranian deputy Al-Barz Ibrahim Azizi warned that any American intervention in the Strait of Hormuz Azizi would violate the cessation of hostilities.

Subscribe to our YouTube channel to follow the leaders and journalists and their analysis of the news

[ad_2]

Source link