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Iran declares Strait of Hormuz completely open to commercial traffic during Israel-Lebanon ceasefire

Oil prices fell more than 10% as Iran said the Strait of Hormuz is open, easing fears of supply disruptions and lifting global stocks.

  • Iran declared the Strait of Hormuz open to commercial traffic during the Israel-Lebanon ceasefire.
  • The Strait of Hormuz links the Gulf to the Arabian Sea and transports one-fifth of the world's oil and liquefied natural gas.
  • The reopening caused oil prices to fall, with Brent crude dropping to $88 per barrel, and global markets rallied.
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Iran opened the Strait of Hormuz to shipping for the duration of the ceasefire. There are still differences in negotiations between Iran and the United States.

·Helsinki, Finland
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Iran has declared the Strait of Ormuz “totally open” to commercial traffic after the entry into force of the ten-day truce between Israel and Lebanon. The announcement was made this Friday by the Iranian Foreign Minister, Abás Araqchi, who specified that navigation must take place on a coordinated route that runs through Iranian territorial waters. The measure is part of the ceasefire that has been in force between Iran and the United States sin…

·Madrid, Spain
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Startup Pakistan - Startups, Technology and Business News From Pakistan broke the news on Thursday, April 16, 2026.
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