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Get the Trump-Iran Geopolitical Playbook for Week of May 11, 2026

The high-stakes standoff in the Strait of Hormuz has reached a critical juncture as the U.S.-led "Project Freedom" remains stalled following a public refusal by Saudi Arabia to allow the use of its airspace or bases for the operation. While Tehran is officially "reviewing" a new Washington proposal—dismissing deadlines as "meaningless"—the fragile ceasefire has largely evaporated following reports of new tanker seizures and missile exchanges on Friday. With Brent Crude holding above $120 per barrel and global supply chains strained by force majeure declarations in the Gulf, the market is bracing for a volatile opening on May 11.

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