The price of Brent crude oil has continued its steady decline, with prices dropping to $92.86 per barrel on Thursday. This decline follows a four-year intraday high of $126.41 per barrel in April. The easing began in earnest in late May, when prices dropped from over $110 per barrel into the 90s.

On Thursday, President Trump posted to social media that over the past month, a secret U.S. military mission, known as Project Freedom, had successfully shepherded over 200 commercial ships carrying more than 100 million barrels of oil through the Strait of Hormuz. Secretary of War Pete Hegseth later revealed that the mission was a success, with the U.S. controlling the strait and stopping almost 140 ships attempting to navigate in or out of Iranian ports.

Impact on Gas Prices

Americans have felt the conflict’s cost at the pump, with prices surging to a national average of $4.52 in May and falling over the last month to $4.13 on Thursday. Head of petroleum analysis at GasBuddy Patrick De Haan warned that if the strait remains effectively closed, the welcome reprieve may not last.

Secretary of Energy Chris Wright said that it would likely be many months before the world fully recovers from events in the strait. Ships have been redirected, and some supply chains have shifted, which will take time to get back to normal flows of energy.

Original reporting: KTBS 3 (Shreveport) — read the source article.