Iranian Foreign Minister Abbas Araghchi announced on Friday April 17 that the Strait of Hormuz is now completely open to commercial vessels for the remaining period of the ceasefire. The announcement was made via Araghchi’s official X account: “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, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Republic of Iran.”

The declaration comes after nearly seven weeks of effective closure that constituted the largest single disruption to global oil and gas trade in modern history. The strait carries approximately 20% of the world’s seaborne oil and gas supplies. President Trump immediately celebrated on Truth Social: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!”

Within minutes of his initial celebration, Trump posted again — this time making clear that the U.S. naval blockade of Iranian ports is not over. “THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE,” Trump wrote. He separately told reporters that negotiations “should go very quickly.”

So the situation as of April 17 is: the Strait of Hormuz is open to commercial vessels on Iran’s designated coordinated route — but the U.S. blockade targeting vessels entering or leaving Iranian ports remains active. Trump also separately declared that Israel is “prohibited” from further strikes on Lebanon, saying “enough is enough” and that Israel and Lebanon leaders would speak for the first time in 34 years.

Markets reacted instantly. U.S. crude oil plunged 10% to approximately $85 a barrel — down from over $112 at the peak of the conflict — while international Brent crude slid more than 8% to around $90. Heating oil futures fell 13% and wholesale gasoline futures dropped 7%. The S&P 500 and Nasdaq Composite both opened at new all-time highs. The price move represents one of the single largest one-day oil drops in recent history and reflects just how much of the risk premium was baked into commodity markets from the Hormuz closure.

Regional officials told AP that the U.S. and Iran have an “in-principle agreement” to extend the ceasefire to allow for more diplomacy, with three main sticking points still unresolved: Iran’s nuclear programme, the Strait of Hormuz’s long-term status, and compensation for wartime damages. Pakistan’s army chief met with Iran’s parliament speaker Thursday to press for the extension.

France and the UK announced they will chair a maritime conference at the Élysée Palace Friday, the “Initiative for Maritime Navigation in the Strait of Hormuz,” bringing together 40 countries to coordinate shipping resumption — including discussing a “strictly defensive multinational mission” once security conditions permit. French Defence Minister Catherin Vautrin confirmed France, Belgium and the Netherlands have mine-clearing capacity to secure safe passage. The mine problem remains real — the IRGC laid mines throughout the conflict and the U.S. has only begun clearing them.

Sources

• NBC News — Iran Declares Strait of Hormuz Completely Open; Trump Says Blockade Remains (April 17, 2026)
• PBS NewsHour / AP — Iran Reopens Strait of Hormuz; U.S. Blockade Stays (April 17, 2026)
• Al Jazeera — Iran War Live: Hormuz Open, Lebanon Ceasefire Holds (April 17, 2026)
• ABC News — Iran Fully Opens Strait of Hormuz, Trump Says (April 17, 2026)