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Oil prices surged on the first day of Trump’s ‘Project Freedom’ plan to unblock Hormuz

todayMay 5, 2026

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Oil hit its highest price of the year on the first day of President Donald Trump’s operation to guide stranded ships through the blocked Strait of Hormuz, underscoring the intense uncertainty that still dogs the global energy trade.

 Oil hit its highest price of the year on the first day of President Donald Trump’s operation to guide stranded ships through the blocked Strait of Hormuz, underscoring the intense uncertainty that still dogs the global energy trade. Read More Breaking News, Latest News and Videos | CNN 

Written by: Energy 90.5

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