Markets Stay On Alert as Trump Pledges ‘Project Freedom’ for Hormuz, Setting Stage for Potential Showdown After Fresh Ship Attacks

(SeaPRwire) –   Financial markets stayed quiet on Sunday, as investors were hesitant to react to President Donald Trump’s latest timely social media post about Iran.

Dow Jones Industrial Average futures climbed 84 points, or 0.17%. S&P 500 futures rose 0.11%, and Nasdaq futures gained 0.06%.

U.S. oil futures dropped 0.77% to $101.16 per barrel, while Brent crude declined 0.59% to $107.53. Gold fell 0.28% to $4,631.60 per ounce.

The U.S. dollar slid 0.1% against the euro and 0.12% against the yen. The 10-year Treasury yield remained flat at 4.372%.

An hour before oil futures started trading, Trump posted on Truth Social that the U.S. will escort ships from “neutral and innocent” countries out of the Strait of Hormuz. He named this initiative Project Freedom, which is set to launch on Monday.

“The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance,” he added. “This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran.”

Trump also noted that his envoys were having constructive discussions with Iran, but warned that if Project Freedom is interfered with, it will “have to be dealt with forcefully.”

U.S. Navy

Any U.S. effort to lead ships out of the Persian Gulf and through the Strait of Hormuz — which Iran has mined — could involve the Navy.

U.S. warships have begun anti-mine operations, though it may take weeks or months to fully eliminate the threats. Meanwhile, Iran has insisted that all ships transiting the strait pay a toll to the regime and follow a route approved by the Islamic Revolutionary Guard Corps.

Earlier on Sunday, a cargo ship near the Strait of Hormuz reported being attacked by multiple small boats, marking the first such incident since April 22. While no immediate claim of responsibility was made, the IRGC is known to use small fast-attack boats to assert control over the strait.

Trump did not mention the Navy or Iran’s toll in his Sunday post. At the same time, the U.S. military continues to enforce a naval blockade on Iran to keep its oil exports restricted and apply economic pressure.

The Navy has already tested the waters in the strait by prominently sending two destroyers through the chokepoint last month, despite warnings from the IRGC.

Iranian media stated that the destroyers turned around after being confronted by the IRGC, which reportedly launched a drone toward the destroyers. The IRGC also said any attempt by military ships to cross the strait would be met with a “firm and forceful response.”

Before that, U.S. warships avoided the strait as Navy officials had previously described it as an Iranian “kill box” filled with numerous threats, including anti-ship missiles, drones, fast-attack boats, and mines.

U.S. Navy