CNBC5/3/2026Business
Asia-Pacific markets mixed as Trump announces 'Project Freedom' to free ships in Strait of Hormuz
Oil prices decline following announcement of U.S. military operation in contested waterway
Quick Look
- Asia-Pacific markets opened mixed Monday as investors evaluated President Trump's 'Project Freedom' plan to free civilian ships stranded in the Strait of Hormuz amid U.S.-Iran tensions.
- The U.S. military will deploy guided-missile destroyers, over 100 aircraft, and 15,000 service members to the contested waterway.
- Oil prices fell following the announcement, with WTI futures down 0.59% to $101.34 and Brent crude 0.27% lower at $107.88.
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Asia-Pacific markets opened mixed Monday as investors evaluated President Trump's 'Project Freedom' plan to free civilian ships stranded in the Strait of Hormuz amid U.S.-Iran tensions. The U.S. military will deploy guided-missile destroyers, over 100 aircraft, and 15,000 service members to the contested waterway. Oil prices fell following the announcement, with WTI futures down 0.59% to $101.34 and Brent crude 0.27% lower at $107.88.
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This article was originally published by CNBC.
