Trump says U.S. will ‘free’ ships trapped in Persian Gulf by Strait of Hormuz closure

BREAKING: Two missiles hit a US warship near Jask Island after it ignored Iran's warnings - Iran's Fars News Agency Iran's new Hormuz ‘control zone’ stretches to Fujairah - Tasnim Two missiles hit a US warship near Jask Island after it ignored Iran's warnings - Fars Iran’s Fars News Agency reports that two missiles struck a US warship near Jask Island after it allegedly ignored repeated warnings to exit Iranian territorial waters. The incident marks a fracture in the fragile ceasefire that has been in place since early April and occurs just as the Trump administration launched Operation Project Freedom. The strike near Jask Island follows weeks of escalating rhetoric since the failure of the Islamabad peace talks. Iran's Revolutionary Guards warned that coastal defense batteries remain on high alert to target any ship attempting to bypass Iranian checkpoints without authorization. Oil prices jumped and US futures dropped as the risk sentiment turned negative on this latest escalation. IRANIAN NAVY CLAIMS THEY STOPPED U.S. WARSHIPS FROM ENTERING THE STRAIT OF HORMUZ, ACCORDING TO STATE TELEVISION.

*TRUMP: US WILL GUIDE NEUTRAL SHIPS SAFELY OUT OF STRAIT OF HORMUZ STARTING MONDAY MORNING *TRUMP: US IN POSITIVE DISCUSSIONS WITH IRAN THAT COULD LEAD TO SOMETHING VERY POSITIVE *TRUMP: ANY INTERFERENCE WITH HUMANITARIAN SHIP MOVEMENT WILL BE DEALT WITH FORCEFULLY ... Countries from all over the World, almost all of which are not involved in the Middle Eastern dispute going on so visibly, and violently, for all to see, have asked the United States if we could help free up their Ships, which are locked up in the Strait of Hormuz, on something which they have absolutely nothing to do with — They are merely neutral and innocent bystanders! For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business. Again, these are Ships from areas of the World that are not in any way involved with that which is currently taking place in the Middle East. I have told my Representatives to inform them that we will use best efforts to get their Ships and Crews safely out of the Strait. In all cases, they said they will not be returning until the area becomes safe for navigation, and everything else. This process, Project Freedom, will begin Monday morning, Middle East time. I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all. The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance. 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. I think it would go a long way in showing Goodwill on behalf of all of those who have been fighting so strenuously over the last number of months. If, in any way, this Humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully. Thank you for your attention to this matter! DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA

Senior U.S. official denies a U.S. ship was hit by Iranian missiles Senior US official denies a US ship was hit by Iranian missiles - Axios Global Affairs Correspondent for Axios, Barack Ravid, said on X that a senior US official denied Iranian missiles hit a US warship. This has triggered a quick reversal in earlier moves after Fars News Agency reported that two missiles struck a US warship near Jask Island after it allegedly ignored repeated warnings to exit Iranian territorial waters. We are likely to get more of such conflicting reports in the next days as tensions in the Strait of Hormuz remain high. This should keep oil prices elevated and risk sentiment a bit more in check as things could escalate very quickly. For now, US stocks are ignoring these risks on expectations that eventually the Strait of Hormuz will be reopened, but the longer this stalemate drags on, the higher the risk that the Fed would need to adopt a tightening bias.