Iran Opens Strait Of Hormuz … For Now

President Donald Trump and Iranian Foreign Minister Seyed Abbas Araghchi announced Friday that the Strait of Hormuz was officially open.

Trump took to Truth Social to thank the Iranians for opening the strait after previously claiming the U.S. was close to a deal to permanently end the conflict.  Crude oil futures declined shorty after Iran announced the strait’s opening, with prices tumbling by over 10% as of this writing.

“THANK YOU!” Trump said on Truth Social. “Iran Has JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE.”

However, Araghchi’s announcement on X was less enthusiastic. He explained that the Strait of Hormuz would only remain open “for the remaining period of ceasefire.”

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through the 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 Rep. of Iran,” Araghchi wrote.