US president briefly pauses ‘Project Freedom’ operation escorting ships through strait of Hormuz
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Oil prices have eased and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, while momentum in AI-driven trading accelerated.
The US president said he would briefly pause his “Project Freedom” operation escorting ships through the strait of Hormuz, which carries about a fifth of the global oil supplies and has been blockaded by Iran since late February, triggering an energy crisis.
Trump said he was stopping the efforts for “a short period” so he could finalise a deal with Tehran but added that his blockade of Iranian ports would remain in place.
