Iran’s Foreign Minister Abbas Araghchi announced that the Strait of Hormuz will remain “completely open” for commercial shipping during the remaining period of the ceasefire, a move that was followed by a sharp decline in global crude oil prices.
In a post on X, Araghchi said that passage through the strategic waterway would be open to all commercial vessels in line with the ceasefire in Lebanon. He added that vessels would follow coordinated routes as announced by Iran’s Ports and Maritime Organisation.
The Strait of Hormuz, one of the world’s most critical oil transit chokepoints, had been under heightened tension amid regional hostilities, raising concerns over potential disruptions to global energy supplies.
U.S. President Donald Trump also confirmed the development on social media, stating that the strait is “fully open and ready for full passage,” signaling a possible easing of tensions in the region.
Following the announcement, crude oil prices fell by around 10 percent, according to the Associated Press, reflecting market response to reduced fears of supply disruption.
The reopening of the strait is seen as a key development in stabilizing maritime trade flows and energy markets, particularly as a significant portion of global oil shipments passes through the narrow channel connecting the Persian Gulf to international waters.
The announcement comes amid a broader ceasefire framework linked to the Lebanon front, with diplomatic efforts ongoing to de-escalate tensions across the region. [KNT]
In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.
— Seyed Abbas Araghchi (@araghchi) April 17, 2026
© Kashmir News Trust (KNT). Unauthorized use without attribution is prohibited.
