The decision has already been felt in oil prices, with Brent oil falling 10% to less than 90 dollars per barrel.
Iran decided fully open the Strait of Hormuz to commercial shipping for the duration of the ceasefire agreed with the United States, the Iranian Foreign Minister announced today.
“In line with , we declare ourselves completely open to passage of all merchant ships through the Strait of Hormuz for the remainder of the ceasefire period,” he said. Abbas Araghchi in a message on social media, in which he indicated that the ships will follow the route “coordinated and already announced” with the Iranian Port and Maritime Organization.
Donald Trump has already reacted to the Iranian announcement. In a post in capital letters on his social network Truth Social, the American president wrote that “Iran has just announced that the Iran Strait is fully open and ready for free passage.” In another publication, also in all capital letters, Trump said that the US naval blockade of Iranian ports “will remain in full force until our transaction with Iran is 100% complete.”
“The Strait of Hormuz is completely open and ready for business and free passage, but the naval blockade will remain in full force and effect with respect to Iran only until our transaction with Iran is 100% completed. This process must be very fastas most of the points have already been negotiated. Thank you for your attention to this matter!” Trump wrote.
The announcement has already been felt in the markets, with the price of oil plummeting. The price of Brent oil fell to less than 90 dollars per barrela drop of 10%, due to the expectation that energy supply can be restored after several weeks of interruption with the blockage of the Strait of Hormuz, through which around 20% of the world’s oil passes.
