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Evening Standard

Politics

Michael Howie

Oil price edges lower as Trump pauses Strait of Hormuz 'Project Freedom'

United States Marco Rubio Iran Donald Trump Strait of Hormuz Pete Hegseth Dan Caine

Oil prices have edged lower on Donald Trump’s announcement that the US will pause efforts to guide stranded vessels out of the Strait of Hormuz in order to try and finalise a deal with Iran.

American forces had attempted to reopen the strait earlier this week, but Trump confirmed a US blockade of Iranian ports would remain in place while talks were held.

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