Oil prices ease as US pauses Project Freedom to seek deal with Iran
President Donald Trump raised hopes of an agreement between the US and Iran after days of escalation.
Coverage by Political Leaning
See how different sides of the spectrum reported this story
Notable Quotes
"Project Freedom, which Trump said was meant to ease the flow of energy through the channel, had tested the ceasefire between the sides."
— Donald Trump , Politician
"We would prefer the path of peace. What the president would prefer is a deal."
— Marco Rubio , Politician
"The operation is over. Epic Fury – as the president notified Congress – we’re done with that stage of it."
— Marco Rubio , Politician
"It is in China’s interest that Iran stop closing the strait."
— Marco Rubio , Politician
"We know the Iranians are embarrassed by this fact. They said they control the strait. They do not."
— Pete Hegseth , Executive
"The US will 'help free up' vessels stranded in the Gulf."
— Donald Trump , Politician
"Any 'American interference' in the strait would be considered a breach of their truce."
— Ebrahim Azizi , Politician
"The market is becoming accustomed to some of Trump’s posts about progress on Iran negotiations proving premature later on."
— Saul Kavonic , Academic
"Normalising the flow through the Strait of Hormuz will take more than what Project Freedom is offering."
— June Goh , Academic
"raised hopes of an agreement between the US and Iran after days of escalation."
— Donald Trump , Politician
"Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran."
— Donald Trump , Politician
"We would prefer the path of peace. What the president would prefer is a deal."
— Marco Rubio , Politician
"We know well that the continuation of the status quo is intolerable for America, while we are just getting started."
— Mohammad Ghalibaf , Politician
"Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran."
— Donald Trump , Politician
"the bombing starts"
— Donald Trump , Politician
"for a short period"
— Donald Trump , Politician
"Project Freedom would be paused for a short period of time to see whether or not the Agreement can be finalized and signed."
— Donald Trump , Politician
"We would prefer the path of peace. What the president would prefer is a deal."
— Marco Rubio , Politician
"Project Freedom would be paused for a short period of time to see whether or not the Agreement can be finalized and signed."
— Donald Trump , Politician
"We would prefer the path of peace. What the president would prefer is a deal."
— Marco Rubio , Politician
"We know well that the continuation of the status quo is intolerable for America, while we are just getting started."
— Mohammad Ghalibaf , Politician
"Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran."
— Donald Trump , Politician
"U.S. attacks against Iran are 'over' and that Washington had achieved its objectives."
— Marco Rubio , Politician
"raised hopes of an agreement between the US and Iran after days of escalation."
— Donald Trump , Politician
"Project Freedom will be paused for a short period to see whether or not the Agreement can be finalized and signed."
— Donald Trump , Politician
"negotiations with Iran were making 'great progress' toward a final agreement."
— Donald Trump , Politician
"Due to the capital expenditure we are seeing from hyperscalers in the US, the earnings growth trajectory for sectors such as semiconductors, tech hardware, industrials and materials in Asia exceeds anything I have seen in a long time."
— Rushil Khanna , Academic
"A fragile ceasefire, a novel blockade, Friday’s NFP and diminishing odds of a US-Iran peace deal are all converging this week."
— Lukman Otunuga , Academic
Key People
Abbas Araghchi is the Foreign Minister of Iran.
Dan Caine is the Chairman of the Joint Chiefs of Staff.
Former president of the United States known for his aggressive economic policies.
Head of the Iranian parliament's national security committee.
June Goh is a senior oil market analyst at Sparta.
Lukman Otunuga is the head of market research at trading broker FXTM.
U.S. Secretary of State.
Michel Doukeris is the CEO of AB InBev, a multinational beverage and brewing company.
Mohammad Ghalibaf is the speaker of the Iranian parliament.
Pete Hegseth is the United States Secretary of Defense.
Rushil Khanna is the head of equity investments for Asia at Ostrum, an affiliate of Natixis Investment Managers.
Head of energy research at MST Research.
Locations
Tags
All Coverage
President Donald Trump raised hopes of an agreement between the US and Iran after days of escalation.
President Trump paused the U.S.-led effort to guide ships through the Strait of Hormuz, citing progress toward a complete agreement with Iran.
Oil prices remained stable as President Trump announced 'Project Freedom' to ease disruptions in the Strait of Hormuz caused by Iranian threats.
Despite President Trump's announcement of 'Project Freedom' to guide ships through the Strait of Hormuz, oil prices remained largely unchanged as markets remained skeptical.
Oil prices edged lower after President Trump announced a pause in the US operation guiding ships through the Strait of Hormuz, aiming to negotiate a deal with Iran.
Oil prices declined following President Trump's decision to pause the US-led operation in the Strait of Hormuz, signaling potential diplomatic progress with Iran.
Oil prices eased and stock markets rallied as President Trump paused the 'Project Freedom' operation, signaling progress towards a deal with Iran.
Oil prices declined after President Trump announced a pause in the US-led operation in the Strait of Hormuz, aiming to negotiate a deal with Iran.
Oil prices fell sharply after President Trump suspended 'Project Freedom' in pursuit of a deal with Iran to end the Middle East conflict.
Oil prices fell sharply after President Trump suspended 'Project Freedom' in pursuit of a deal with Iran to end the Middle East conflict.
Oil prices declined as President Trump announced a pause in the US operation guiding ships through the Strait of Hormuz, signaling potential progress in US-Iran negotiations.
Oil prices edged lower after President Donald Trump announced a pause in the US operation guiding ships through the Strait of Hormuz, aiming to negotiate a deal with Iran.
Oil prices edged lower after President Trump announced a pause in the US operation guiding ships through the Strait of Hormuz, aiming to negotiate a deal with Iran.
President Trump announced the suspension of 'Project Freedom' to facilitate negotiations with Iran, while maintaining the U.S. blockade of Iranian ports.
Oil prices fell and Asian stock markets surged after President Trump paused the US operation in the Strait of Hormuz, signaling progress towards a final peace deal with Iran.
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