Iran's Foreign Minister announced that the Strait of Hormuz is fully open for commercial vessels to pass through during the remaining ceasefire period between Israel and Lebanon.
On 17 April 2026, Abbas Araghchi, Iran's Foreign Minister, stated that the Strait of Hormuz is now completely open to all commercial ships following the ceasefire declaration between Israel and Lebanon on 16 April.
Araghchi said on X that this move "is consistent with the ceasefire announcement in Lebanon."
"Passage through the Strait of Hormuz for all commercial vessels, along routes previously declared by the Ports and Maritime Organization of the Islamic Republic of Iran, has been officially declared fully open for the duration of the remaining ceasefire," Araghchi said.
Following Araghchi's announcement, oil prices immediately dropped about 9%, continuing a prior downward trend. At 13:00 GMT, Brent crude fell $8.46, or 8.5%, to $90.93 per barrel, while U.S. WTI crude dropped $8.87, or 9.4%, to $85.82 per barrel.
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Source:cna