Oil prices surge amid Mideast tensions and Trump's intervention plan. Brent crude climbed 1.16% to $109.43 per barrel while U.S. West Texas Intermediate added 0.94% to $102.9 as markets react to President Trump's "Project Freedom" initiative aimed at freeing stranded cargo ships in the Strait of Hormuz. The critical waterway, which handles roughly a fifth of global energy supplies, faces ongoing blockades with recent reports of tankers being hit by projectiles. Trump's military-backed operation will deploy guided-missile destroyers, over 100 aircraft, and 15,000 service members to assist civilian vessels. Meanwhile, OPEC+ approved a modest output increase of 188,000 barrels per day in its first meeting since the UAE's departure.
