Iran has reopened the Strait of Hormuz to commercial shipping, according to Foreign Minister Abbas Araghchi, easing concerns about a key global oil transit route.
Araghchi said the waterway would remain “completely open” for the duration of the Lebanon ceasefire, which runs until April 26, although vessels will be required to follow routes designated by Iran—raising the prospect of transit fees.
In response, Donald Trump welcomed the move but confirmed that the US naval blockade targeting Iranian ports will remain in place until a final agreement is reached.
He added that negotiations are close to completion, with reports suggesting in-person talks could resume in Pakistan as early as Sunday.
The reopening follows Israel’s ceasefire with Lebanon, a key development in broader peace negotiations.
Oil markets reacted swiftly, with crude prices falling to around $91 per barrel in the immediate aftermath, reflecting improved supply expectations.
