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The Strait of Hormuz has been fully reopened to commercial shipping as the ceasefire between Israel and Lebanon continues, with ships required to follow a route set by Iranian authorities, Foreign Minister Seyed Abbas Araghchi said in he released ‘the Friday statement that is necessary for me to continue this ongoing cease-fire.
Keeping in line with the ceasefire in Lebanon, all commercial vessels through Strait of Hormuz are declared open for the rest of cease fire; on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. (see below). of Iran .
Seyed Abbas Araghchi (@araghchi) April 17, 2026
Following the $74,600–$75,746 range of trading earlier in the series, Bitcoin climbed toward $77,000 on news headlines as it traded higher and oil prices fell. Then Crude dropped 11-11, . 5% to near $84 and Brent to around $89, more than 10% to about $88 fell.
President Donald Trump responded by thanking Iran for the move.
In early March 2026 tensions grew between the US and Iran after military actions initiated by the United States, with an end to the Strait of Hormuz, which is one of the most critical chokepoints for global oil transportation. This crisis led to the longest period of oil supply disruptions since the 1973 oil embargo, with prices exceeding record highs and severe effects on global markets.
The latest comes just days after Trump announced a 10-day ceasefire in Lebanon following separate calls with Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun.
After the truce, which began at midnight, it stops seven weeks of intense Israeli military action against Hezbollah in southern Lebanon and is expected to be followed by direct Israel–Lebanaser negotiations with Washington next week.
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