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Canadian, U.S. stock markets jump and oil sinks as Strait of Hormuz declared open
Oil prices fell more than 10% as Iran said the Strait of Hormuz would stay open, while Wall Street and the TSX hit record highs.
- On Friday, April 17, 2026, Iranian Foreign Minister Seyed Abbas Araghchi declared the Strait of Hormuz "completely open" for the remaining ceasefire period, causing oil prices to plunge more than 10 percent as global stock markets surged.
- The decision follows a ceasefire between the United States and Iran, as the strategic waterway normally carries one-fifth of global crude oil; previous disruptions had pushed prices to nearly $120 a barrel.
- Investors placed a bet worth about $760 million on falling oil prices around 20 minutes before the announcement. David Morrison, Trade Nation research director, noted the S&P 500 rebound gained nearly 12 percent in just over two weeks, reinforcing the rally.
- President Donald Trump thanked Iran for opening the strait but confirmed the U.S. naval blockade of Iranian ports will remain in "FULL FORCE" until a deal is reached. France and Britain announced plans for a multinational mission to ensure navigation.
- The Commodity Futures Trading Commission is investigating oil futures trades placed before major policy shifts related to the Middle East war. Lawmakers express concern that war-related decisions may provide traders an unfair edge in volatile derivatives markets.
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TSX rises, U.S. markets hit new highs as Iran says Strait of Hormuz open
TORONTO — Canada's main stock index rallied and U.S. markets moved further into record territory, as oil plunged after Iran's foreign minister said the Strait of Hormuz is fully open. The S&P/TSX composite index was up 294.06 points at 34,346.
Strait Of Hormuz "Completely Open". But Iran's Guards Impose Fresh Conditions
The statement mentions details that Iran's Foreign Minister Abbas Araghchi did not clarify when he announced that the passage during the ceasefire was "completely open" for all commercial vessels.
·New Delhi, India
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Total News Sources89
Leaning Left16Leaning Right15Center21Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 31%
C 40%
R 29%
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