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I'm Jerry Willis, and this is the Fox Business Rundown.

Monday, May 4th, 2026. Oil prices on the climb again as the feud in the Strait of Hormnus persist,

but can U.S. escorts in the waterway begin to ease economic tensions?

I don't think Iran can keep the straight close. I think the market's leaning the wrong way on this one,

and when that's straight to be open, it's just going to be a massive pressure off the market's leaning the wrong way on this one. And when that straight and the open,

it's just going to be a massive pressure off the market.

President Trump is calling it Project Freedom,

as the United States Navy will help ships from other nations

escape the Strait of Hormuz.

Earlier this morning, the U.S. military said that two American-flagged

merchant ships have already successfully traveled

the strait. The Iranian regime, however, has issued threats to attack. Meanwhile, rising energy

prices are now sky high after Spirit Airlines announced that it has gone out of business after 34

years. Massachusetts Democratic Senator Elizabeth Warren pointing blame for the

closure on surging fuel costs. Transportation Secretary Sean Duffy, though, told reporters that the airline

...