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Market Chatter: US Navy Supports Tanker Movements Through Strait of Hormuz

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The US Navy quietly assisted vessels crossing the Strait of Hormuz, including a supertanker carrying 2 million barrels of crude, The Wall Street Journal reported Tuesday, citing US military officials.

The officials said the Navy guided a Greek supertanker through waters near Oman after the vessel remained stranded in the Gulf since early March.

The tanker is now sailing toward India to deliver its crude cargo, according to the report.

Iranian attacks on vessels and Saudi restrictions on US base and airspace access forced the US to halt "Project Freedom," which it launched earlier this month to support traffic through the Strait of Hormuz.

US officials said the Navy plans to assist about 12 vessels, including supertankers and container ships, through the waterway over the coming days, according to the report.

A US Central Command spokesman reportedly told the WSJ that the military was not restarting Project Freedom and described reports of the initiative's resumption as inaccurate.

US Central Command did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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