A previously unacknowledged U.S. defense effort has successfully enabled the transit of more than 100 million barrels of crude oil through the strategically vital Strait of Hormuz over the last 30 days, President Donald Trump revealed in remarks made public today. The initiative, identified as “Project Freedom,” supported over 200 commercial tankers navigating the contested waterway.
According to the President, the operation functioned through strategic communication and coordination with vessel operators rather than traditional naval escort duties. Ships moved under cover of darkness without running lights or transponders, while regional Iranian radar systems had been neutralized in prior actions. “We took out the other night 22 ships. Late at night, with no lights, because they don’t have any radar because we blasted the crap out of it,” President Trump stated, adding that Iranian authorities remained unaware of the operation until its disclosure.
The volume transported—exceeding 100 million barrels across one month—equates to an incremental supply of approximately 3 million barrels daily. Given that worldwide oil supply and demand intersect near 100 million barrels per day, this represents a roughly 3% expansion in global availability. Market observers suggest this added capacity has been instrumental in preventing crude prices from surging toward $150 or $200 per barrel.
Recent pricing data underscores the stabilization effect. West Texas Intermediate crude, which reached highs near $113 per barrel earlier this year, was trading around $90 at latest report—a reduction of nearly 20%. Meanwhile, the national average for gasoline has declined to approximately $4.15 per gallon, per AAA’s latest survey, marking a decrease of almost 10% from its May peak of $4.56. Current data indicates that close to half of all U.S. states now feature average pump prices in the $3 range.
Addressing broader economic indicators, the most recent Consumer Price Index registered a 4.2% annual increase overall, while the core measure—stripping out food and energy components—stood at 2.9%. Energy costs have climbed 104% year-over-year across the past quarter, with gasoline prices alone jumping 250%. Conversely, prices for goods excluding food and energy have remained largely unchanged, countering earlier concerns about tariff-driven inflation.
President Trump framed current fuel expenses as “a modest price to pay to rid the world and the Middle East from the scourge of radical Islam in Iran,” while expressing confidence that hostilities would conclude in the near term, subsequently driving down oil and gasoline costs substantially.
Domestic production context was also provided: the United States currently extracts 13.6 million barrels of crude per day. Broader economic metrics were cited as robust, including expansion in manufacturing, business capital investment, factory output, construction activity, corporate earnings, productivity gains, and equity valuations despite recent market volatility. Contributing policy elements highlighted include reduced tax burdens, streamlined regulations, expanded domestic energy exploration, and momentum in artificial intelligence development. These factors, according to the administration, are supporting U.S. economic growth approaching 4% annualized GDP expansion alongside historically low unemployment levels.
Attention now shifts to the Federal Reserve’s forthcoming policy session. President Trump voiced expectation that Kevin Warsh, referenced as the prospective incoming Fed chair, would introduce updated analytical frameworks and affirm that strong economic expansion—alongside transient energy price movements—does not constitute a primary driver of sustained inflationary pressure.
