Trump Announces Strait of Hormuz Fully Open as Iran Confirms Commercial Passage, Stock Market Climbs, Oil Prices Plunge Over 10%

WASHINGTON — President Donald Trump announced Friday that the Strait of Hormuz is now “fully open and ready for full passage” after Iran’s Foreign Minister Abbas Araghchi declared commercial vessels can transit the critical chokepoint during the ongoing 10-day Israel-Lebanon ceasefire.

In a Truth Social post, Trump wrote: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” He added that the U.S. naval blockade of Iranian ports “will remain in full force and effect” until a final transaction with Iran is “100% complete,” noting that most points are already negotiated and the process “should go very quickly.”

Minutes earlier, Araghchi posted on X: “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.” He specified vessels must follow a “coordinated route” set by Iran’s Ports and Maritime Organization. Iran’s deputy foreign minister reiterated Tehran’s commitment to keep the strait open while signaling possible new security measures.

The announcement follows Trump’s April 16 announcement of the 10-day Lebanon ceasefire and U.S. efforts to reopen the waterway, which carries nearly 20% of global oil trade and 45-50% of China’s crude imports. Iran had effectively closed the strait in March 2026 amid the U.S.-Israel conflict, prompting Trump’s naval blockade.

Market Reaction

Stocks rallied on the news. As of 9:30 a.m. Central Time, the Dow Jones Industrial Average rose 1.94%, the S&P 500 climbed 1.06%, and the Nasdaq gained 1.15%. Oil prices plunged, with WTI crude dropping more than 10%.

The reopening signals potential relief at the pump for American families and businesses as U.S.-Iran negotiations continue.