Crude prices dipped slightly as traders reacted to President Trump's announcement of 'Project Freedom' to assist ships in the Strait of Hormuz, which Iran has rejected. The US benchmark crude price fell to $101.65 a barrel. The oil market is heavily impacted by the ongoing war with Iran, causing storage issues for producers. In Asian markets, tech stocks surged, with the S&P 500 reaching an all-time high, driven by strong corporate earnings despite the war's impact on oil prices.