Defense Secretary Pete Hegseth has said that 15,000 U.S. troops are now stationed in the Strait of Hormuz to escort oil tankers through the heavily contested waterway. The deployment is part of “Project Freedom,” a new military operation launched to break Iran’s blockade and restore global oil flow.
However, while the Pentagon frames the mission as a decisive show of force, the real story is unfolding at gas pumps and trading desks, where oil prices just hit a four-year high and economists are warning of a looming recession. According to The Hill, Hegseth announced the operation on May 5, 2026, describing it as a “red, white and blue dome” of American military power stretched over the strait.
