Tehran/New York, Apr 17 (EFE).- Iran announced Friday that the Strait of Hormuz will remain fully open to commercial shipping until the end of the ceasefire with the United States next Wednesday, following the start of a truce in Lebanon, a move that sent oil prices sharply lower amid easing supply concerns.
«In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire, on the coordinated route already announced by the Ports and Maritime Organisation of the Islamic Republic of Iran,» Iranian Foreign Minister Abbas Araqchi said in a post on X.
The route consists of an entry and exit corridor: vessels will enter from the Sea of Oman northward to Larak Island and from there to the Persian Gulf, while outbound traffic will follow the reverse route.
US President Donald Trump welcomed the decision but said Washington’s naval blockade of Iranian ports would remain in effect until a broader agreement is reached with Tehran.
“The Strait of Hormuz is completely open and ready for business and full passage, but the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete,” Trump wrote on his Truth Social platform, adding that negotiations should proceed quickly.
The reopening of the strategic strait, through which roughly 20 percent of global oil shipments transit, followed the implementation overnight of a 10-day ceasefire between Israel and Lebanon, one of 10 conditions included in the Apr. 8 ceasefire agreement between Iran and the United States.
Despite the truce, Israel has continued strikes on Lebanese territory, which Lebanese authorities say have killed more than 2,200 people.
Tehran had also pledged to allow navigation through Hormuz as part of its agreement with Washington, though shipping activity had remained reduced following the ceasefire.
The US had imposed restrictions on vessels heading to or departing from Iranian ports after talks in Islamabad, mediated by Pakistan last Saturday, failed to produce a broader agreement.
Markets reacted quickly to the reopening announcement.
After the reopening of the strait, US benchmark West Texas Intermediate (WTI) crude futures dropped 9.01 percent to $86.16 per barrel at 9:00 a.m. local time (13:00 GMT), down $8.53 from the previous session’s close, as concerns over supply disruptions eased and geopolitical risk premiums declined.
Trump also said talks with Iran could resume this weekend and expressed willingness to travel to Islamabad to finalize an agreement.
He added that he had held “excellent” phone calls with Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun and suggested both leaders could visit Washington within days. EFE
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