WTI and Brent Surge Following False Reports of US Warship Attack in Hormuz
Key Takeaways:
WTI Crude futures with delivery in June climbed up to $107.28 on early morning, and then stabilized to a little over $105. Similar futures for the Brent benchmark but with July delivery rose close to $114 and later dropped near the $110 mark per barrel.
U.S. Central Command (CENTCOM) denied these allegations on social media, stating that “no U.S. Navy ships have been struck. U.S. forces are supporting Project Freedom and enforcing the naval blockade on Iranian ports.”
The reports come after President Trump announced that the U.S. Navy would be conducting an operation to “free the ships” of countries all over the world stuck in the Strait of Hormuz.
“This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran. Many of these Ships are running low on food, and everything else necessary for largescale crews to stay on board in a healthy and sanitary manner,” Trump explained on Truth Social.
Nonetheless, Project Freedom has not been well received by the Iranian regime, which has rejected the passage of any U.S. ships through the Strait. “We warn that any foreign armed force — especially the aggressive US military — will be attacked if they intend to approach and enter the Strait of Hormuz,” said Iran’s military chief Ali Abdollahi Aliabadi, stressing that any safe passage must be coordinated with Iran’s armed forces.
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