Iran’s Foreign Minister Abbas Araghchi said Friday the Strait of Hormuz is fully open to commercial shipping for the rest of the ceasefire period. The decision reverses weeks of closures that disrupted roughly 20 percent of global oil shipments.
What Happened
Araghchi posted the announcement on X. All commercial vessels can now transit the strait through a coordinated route published by Iran’s Ports and Maritime Organization, he said.
Day 47 of the Iran war. The opening follows the Israel-Lebanon ceasefire agreement brokered by US President Donald Trump.
Oil and Markets React
Brent crude fell below $90 per barrel, a 10 percent drop. Traders now expect stable energy supplies through the strait for the first time since Iran closed it in March.
US markets surged. The Dow Jones rose 945 points, or 2.0 percent. The S&P 500 crossed 7,100 for the first time. The Nasdaq gained 1.6 percent. Small-cap stocks also hit a new high, with the Russell 2000 climbing 2.2 percent.
Trump Claims Credit
On Truth Social, Trump wrote that Iran “agreed to never again close the Strait of Hormuz.” He added in all caps: “EXCELLENT AND GREAT DAY FOR THE WORLD!”
In a separate post, Trump said the US maritime blockade of Iranian ports stays in place until a full deal is completed. “Most points are already agreed,” he wrote.
European Conference in Paris
French President Emmanuel Macron and British Prime Minister Keir Starmer co-chaired a Paris conference Friday on Hormuz security. About 30 countries attended. China was invited. The United States was not.
Italian Prime Minister Giorgia Meloni said Rome is ready to provide minesweepers to clear the strait. She called the reopening “critical for resolving the conflict in the Middle East.” Any naval presence in Hormuz should be defensive only and come after hostilities end, Meloni said.
What This Means
The strait handles about 20 percent of the world’s oil. Its closure over recent weeks pushed energy prices up and triggered fears of a global supply crisis. The reopening eases immediate pressure on energy markets. Trump’s maritime blockade on Iranian ports remains active.
The US-Iran ceasefire expires April 22. Trump has said he wants a complete deal by then.
