Iran’s foreign minister, Abbas Araghchi, said Friday that the Strait of Hormuz is fully open to all commercial vessels for the remainder of the ceasefire period, aligning with the ongoing truce in Lebanon.
In a post on the platform X, Araghchi said ships would transit through the strait via a coordinated route previously announced by Iran’s Ports and Maritime Organization.
Following the announcement, global oil prices fell by about 10%, reflecting renewed expectations of stable supply flows through the strategic waterway, which handles roughly one-fifth of the world’s oil trade.
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