Project Freedom Paused, Negotiations at Critical Juncture

Monday, May 11, 2026. BREAKING: Project Freedom paused after 24 hours. Iran claims disabled 4 US vessels (US denies). Trump pitching "Project Freedom Plus" — full expansion to reopen strait if no deal soon. Ball in Tehran's court. WTI $98.38 (EIA May 7), range $95-$101, June futures $95.42 (+0.64%). Henry Hub spot $2.67, Markets Insider $2.83, June futures $2.750 (-0.69%). EIA: commercial crude -2.3M to 457.2M (1% above 5-yr avg), gasoline -2.5M (4% below avg), distillate -1.3M (11% below avg). Downside $70-75 if deal, upside $120-150 if escalation. Negotiations critical. Trade the data.