Iran's foreign minister declared the Strait of Hormuz is open, following the start of an Israel-Lebanon ceasefire. President Trump swiftly responded that the U.S. naval blockade on Iran will continue.

Iran foreign minister says Strait of Hormuz is open to commercial ships during the Lebanon Israel ceasefire following a US brokered truce.

Iran and the White House both declared the valuable Strait of Hormuz chokepoint “completely open” on April 17, and benchmark crude oil prices plunged below $90 per barrel for the first time since early March.

Officials in Tehran said the Strait of Hormuz would reopen to commercial shipping, but they dismissed the president's claims of a wider agreement with the U.S.

Prices dropped after Iran's foreign minister said the Strait of Hormuz is "completely open" for the remainder of the Israel-Lebanon ceasefire.

About seven weeks after the start of the conflict in the Middle East, Iran announced on Friday that a crucial maritime passageway for seaborne oil was “completely open” for commercial vessels — but only as long as the Lebanon-Israel cease-fire agreement is in effect.

A 10-day truce in Lebanon appears to be holding as U_S_ President Donald Trump calls it a “historic day for Lebanon.”

The outlines of an agreement began to emerge that would provide Iran with a major strategic victory — and a potential financial windfall — allowing the Islamic Republic to leverage its control over the Strait of Hormuz to exact significant concessions from the United States and its ally Israel as Trump presses for a swift end to the conflict.