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3. Trump Hails Tehran's Move to Open Strait of Hormuz, Blockade on Iranian Ports to Continue

U.S. President Donald Trump on Friday welcomed Iran’s announcement that the strategic Strait of Hormuz would remain open to maritime traffic for the duration of a ceasefire, signaling a potential easing of tensions in one of the world’s most critical corridors.

“THANK YOU!” Trump wrote on his Truth Social platform, adding that Iranian authorities had declared the narrow waterway “fully open and ready for full passage.”

Soon after, the president issued another post on Truth Social, stressing that the U.S. naval blockade “will remain in full force and effect as it pertains to Iran, only, until such a time as our transaction with Iran is 100% complete.”

The statement came after Iranian Foreign Minister Abbas Araghchi confirmed that the vital shipping route would be “completely open” to commercial tankers and cargo vessels during the period of de-escalation between Washington and Tehran.

Markets reacted sharply to the development. Oil prices plunged on Friday amid renewed optimism over the ceasefire and reduced risks to global supply chains. International benchmark Brent North Sea crude dropped 10 percent to $89.11 a barrel, having already fallen five percent earlier in the session on hopes of a U.S.-Iran agreement.

Meanwhile, the main U.S. crude contract, West Texas Intermediate, declined by 11 percent to $84.11 a barrel, reflecting a broad market response to the prospect of uninterrupted oil flows through the Strait of Hormuz.