Washington, United States – Web Desk: Global oil markets fell sharply after US President Donald Trump announced a temporary halt to the naval mission “Project Freedom” in the Strait of Hormuz, signaling a potential easing of geopolitical tensions in the region.
According to international market data, US West Texas Intermediate (WTI) crude dropped by 1.87% to $100.4 per barrel, while Brent crude declined 1.76% to $107.9 per barrel. Murban crude also slipped by 1.24%, trading near $106 per barrel.
Analysts said the decision to pause the operation reduced market anxiety, easing concerns among investors over potential disruptions to global energy supply routes. The naval mission had been aimed at securing safe passage for commercial vessels amid heightened tensions in the Gulf.
The Strait of Hormuz remains one of the world’s most critical oil transit routes, handling a significant share of global crude shipments. Any escalation in the region typically triggers immediate volatility in energy markets.
Market experts noted that if regional stability continues, oil prices may decline further. However, renewed tensions or military activity could quickly reverse the trend, pushing prices higher again.
