TEHRAN: Iran has announced the reopening of the Strait of Hormuz for commercial vessels in the context of a ceasefire in Lebanon, allowing maritime trade to resume through one of the world’s most critical shipping routes.
Iranian Foreign Minister Abbas Araghchi stated in a post on social media platform X that the strait has been reopened for all commercial shipping and will remain fully operational during the remaining period of the ceasefire.
https://twitter.com/araghchi/status/2045121573124759713
He added that commercial vessels will continue to operate through the designated maritime corridors established by Iran’s Ports and Maritime Organization, ensuring regulated and coordinated navigation.
The Iranian foreign minister said the decision aims to reduce regional tensions and support the restoration of global trade activities.
The Strait of Hormuz is considered a vital global energy corridor, through which a significant portion of the world’s oil shipments pass, making its status highly sensitive for international markets and the global economy.
After Iranian announcement, U.S. President Donald Trump has expressed gratitude to Iran following its announcement that the Strait of Hormuz has been fully reopened to all commercial shipping.
In a message shared on social media, President Trump said “Thank you Iran,” responding to Tehran’s decision to restore unrestricted maritime passage through the strategic waterway.
Meanwhile, Global oil prices witnessed a significant decline following Iran’s announcement regarding the reopening of the Strait of Hormuz for all commercial shipping.US crude oil fell by 8 percent, reaching 86 dollars per barrel amid easing supply concerns in the international market.
Similarly, Brent crude oil dropped by 6 percent, trading at 93 dollars per barrel, as fears of potential disruption in one of the world’s most critical oil transit routes subsided.
Market analysts say the development has reduced geopolitical risk premiums, leading to a broad-based decline in energy prices worldwide.
