Oil Prices Fall as Trump Launches "Project Freedom" and OPEC Increases Output

Oil prices edged lower in early Asian trading on Monday after President Trump announced the U.S. would guide ships through the Strait of Hormuz and OPEC+ confirmed a modest output increase. At the time of writing, WTI crude was down 0.65% at $101.30, while Brent crude had dropped 0.39% to $107.80. The President took to social media on Sunday to announce that 'Project Freedom' would begin on Monday morning, involving the U.S. guiding stranded vessels out of the Strait of Hormuz.

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