By Zoila Palma: Iran has declared the Strait of Hormuz open to commercial shipping following a ceasefire between Israel and Lebanon, signaling a partial easing of tensions in a critical global energy corridor.
The announcement was made today, with Iranian authorities stating that all commercial vessels may resume transit during the ceasefire period, CNBC reports.
Foreign Minister Seyed Abbas Araghchi said the passage is “completely open” but emphasized that ships must follow a “coordinated route” designated by Iran’s maritime authorities. The reopening aligns with a 10-day ceasefire agreement between Israel and Lebanon that began Thursday at 5 p.m. ET, temporarily halting Israel’s military campaign against Hezbollah.
U.S. President Donald Trump welcomed Iran’s move, thanking Tehran in a social media post. However, he maintained that the United States’ naval blockade of Iranian ports remains in force and will continue until a broader agreement is reached between the two countries.
The development had an immediate impact on global oil markets, with prices dropping more than 10% to below $90 per barrel.
Prior to the conflict, roughly one-fifth of the world’s crude oil supply moved through the strait, and its closure had triggered what was described as the largest oil supply disruption in history.
The post International News: Iran reopens Strait of Hormuz as ceasefire holds, U.S. maintains blockade appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Iran has declared the Strait of Hormuz open to commercial shipping following a ceasefire between Israel and Lebanon, signaling a partial easing of tensions in a critical global energy corridor. The announcement was made today, with Iranian authorities stating that all commercial vessels may resume transit during the ceasefire period, CNBC reports.
The post International News: Iran reopens Strait of Hormuz as ceasefire holds, U.S. maintains blockade appeared first on Belize News and Opinion on www.breakingbelizenews.com.