Iran Reopens Strait of Hormuz for Oil Tankers Amid Ceasefire

Iran's Foreign Minister Abba Araghchi announced that the Strait of Hormuz, a vital route for global oil trade, has been declared completely open for commercial shipping during a ceasefire period in the Middle East. This declaration follows a truce agreement that took effect at midnight two weeks prior.

The announcement comes after a significant blockade of the strait by Iran, which began on April 8, causing disruptions in global oil supply and economic shockwaves. The Iranian military, specifically the Islamic Revolutionary Guard Corps, has stated that while civilian vessels are permitted to pass, military vessels will remain prohibited.

U.S. President Donald Trump welcomed Iran's announcement but noted that a naval blockade on Iranian ports would remain in effect until a peace deal is reached with Tehran.

The situation remains tense, with oil prices likely to be affected by these developments.