Brent Holds at $108 as Trump’s Project Freedom Fails to Move Hormuz Oil Flow

TL;DR: Brent crude barely moved, trading at $108.11 per barrel, as President Trump’s “Project Freedom” did not ease the oil supply squeeze from the Strait of Hormuz.

Context The Strait of Hormuz, a chokepoint that normally carries about 20% of global oil, remains largely blocked after Iranian attacks on shipping and infrastructure. Global daily oil output is down by an estimated 14.5 million barrels, according to Goldman Sachs. Prices have hovered above $100 for two weeks, reflecting the lingering disruption.

Key Facts - Brent futures for July settled at $108.11 per barrel, a 0.06% dip, essentially flat on the market. - President Donald Trump announced “Project Freedom,” promising U.S. assistance to free stranded vessels starting Monday, but offered no operational details. - The U.S. Central Command said it would “support” transiting ships with guided‑missile destroyers, over 100 aircraft, unmanned platforms and 15,000 service members, without confirming naval escorts. - Iranian officials warned that any U.S. interference would breach the cease‑fire in place since early April. - Recent incidents include a tanker hit by unknown projectiles off the UAE and a bulk carrier attacked near Iran, though crews were unharmed. - Analyst June Goh noted that falling global oil inventories are pressuring markets more than political statements, and that normalising Hormuz traffic will take months.

What It Means The market’s indifference suggests traders doubt that “Project Freedom” can quickly restore the flow of oil through Hormuz. Even if U.S. forces clear a few vessels, the broader supply gap—14.5 million barrels per day—requires repaired infrastructure, cleared mines and a backlog of unloaded cargo to be resolved. Until those hurdles are cleared, Brent is likely to stay near current levels, keeping fuel costs elevated for consumers.

Looking Ahead Watch for any concrete U.S. naval actions in the strait and for diplomatic signals from Tehran, as both will shape the timeline for restoring global oil flow.