President Donald Trump announced the United States will launch an effort to assist ships in the Strait of Hormuz. The President stated the U.S. intends to "help free up" vessels currently facing issues in the vital shipping lane.
This new initiative will involve the U.S. Navy providing escorts for ships. President Trump confirmed that these escort operations are set to begin on Monday.
Following the announcement of U.S. intervention, oil prices remained flat, with reports indicating the plan did not significantly calm markets. This is a developing story and will be updated as details emerge.
