Iran has fully reopened the Strait of Hormuz to commercial shipping, restoring passage through one of the world’s most critical oil routes amid a 10-day ceasefire between Israel and Lebanon.

Strait reopened under ceasefire terms

Iran’s Foreign Minister, Abbas Araghchi, announced on Friday that the strategic waterway will remain open for commercial vessels for as long as the ceasefire in the Middle East holds.

“The passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire,” he said in a post on X.

The announcement follows uncertainty over whether the reopening aligns with the recent ceasefire involving Lebanon and Israel or an earlier truce between Iran and the United States.

US reacts as Trump welcomes move

United States President Donald Trump reacted to Iran’s decision, describing the development as positive for global shipping and energy flow.

“THANK YOU!” Trump wrote on Truth Social, adding that the Strait had been “FULLY OPEN AND READY FOR FULL PASSAGE.”

His response signals cautious relief in Washington as tensions around the strategic route ease, at least temporarily.

Strategic waterway back in focus

The Strait of Hormuz, through which a significant share of global oil shipments pass, had previously faced restrictions after heightened tensions in the region.

Iran had earlier signalled limited closure following military escalations involving the United States and Israel, raising fears over global energy security.

Oil prices tumble, markets react

The reopening has already triggered sharp movements in global markets.

Oil prices reportedly dropped by more than 11 per cent, while European stocks rallied and US futures pointed upward as investors reacted to easing supply fears.

Analysts say the development underscores the Strait’s outsized influence on global energy stability, with ripple effects expected across importing economies, including Nigeria.