Brief by Shorts91 Newsdesk / 09:41am on 06 May 2026,Wednesday Politics
Global oil prices eased on Wednesday after US President Donald Trump announced a temporary pause in “Project Freedom”, the US-led naval operation aimed at securing shipping through the Strait of Hormuz, to allow space for fresh negotiations with Iran. Brent crude dropped 1.7% to $108 a barrel, while US crude slipped 1.6% to $100.60 after recent sharp gains driven by escalating tensions in the Middle East. Trump said “great progress” had been made towards a possible agreement with Iran, though uncertainty remains over the reopening of safe trade routes through the strategically vital Strait of Hormuz. (PC: BBC)
