The U.S. military said on Monday it began Project Freedom to restore freedom of navigation through the Strait of Hormuz, after President Donald Trump said on Sunday the U.S. would guide civilian ships through the waterway. [1]

U.S. Central Command said the operation is backed by guided-missile destroyers, more than 100 aircraft and unmanned platforms. CENTCOM also said two U.S.-flagged merchant vessels successfully transited the strait. [1]

U.S. officials told Axios there are no plans for full-fledged naval escorts right now. Instead, the Navy will advise ships on how to avoid mines and stand ready to intervene if vessels are attacked, a more limited role than Trump's comments suggested. [1]

Markets reacted quickly. Brent crude futures rose about 4% to $112.69 a barrel by 11:09 a.m. ET on Monday, while West Texas Intermediate gained nearly 2% to $103.74. [1]

The operation comes after Iran's military warned it would attack any U.S. warship that approaches the strait, according to Tasnim. The UAE said Iranian drones targeted a vessel affiliated with ADNOC and condemned the attacks on commercial ships as "acts of piracy." [1]

CENTCOM said, "No U.S. Navy ships have been struck," and added that U.S. forces are supporting Project Freedom and enforcing the naval blockade on Iranian ports. [1]