A key global oil artery is back in business — at least for now.
Iranian Foreign Minister Seyed Abbas Araghchi announced Friday that the Strait of Hormuz is “completely open” to commercial shipping, but only so long as the new Israel-Lebanon ceasefire remains intact.
Oil prices were plunging in response to the announcement, falling more than 10%.
“In line with the ceasefire in Lebanon, the passage for all 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,” Araghchi wrote on X.
Iranian Foreign Minister announces the Strait of Hormuz is declared “completely open.”
“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…
— Trey Yingst (@TreyYingst) April 17, 2026
That statement matters far beyond the region. Roughly a fifth of global petroleum liquids consumption typically moves through the narrow waterway, making any disruption there an immediate concern for markets, shipping insurers, and world capitals.
President Donald Trump shared the news on TRUTH Social.
“IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” Trump posted on TRUTH Social.
— Department of State (@StateDept) April 17, 2026
In a follow-up post, Trump made it clear that the naval blockade would remain intact.
— Rapid Response 47 (@RapidResponse47) April 17, 2026
The Israel-Lebanon ceasefire took effect Friday and is slated to last 10 days, creating a narrow diplomatic window after weeks of heightened regional tension.
The reopening of Hormuz could ease immediate fears of supply shocks and rising energy prices, both of which hit consumers quickly at the pump and in household budgets.
Still, the arrangement appears temporary and conditional. If the ceasefire collapses, markets may once again brace for fresh uncertainty in one of the world’s most strategically vital waterways.
This story is developing…
BREAKING: Iran's Foreign Minister announces that the Strait of Hormuz has officially re-opened following the U.S. naval blockade in the region. pic.twitter.com/xGvlQB3aWr
— Fox News (@FoxNews) April 17, 2026
More over at The New York Post:
Strait of Hormuz 'completely open' until cease-fire's end, Iran foreign minister declares https://t.co/PcwXbL1V4M pic.twitter.com/nBmypXMEsn
— New York Post (@nypost) April 17, 2026
