Iran Announces Full Opening of Hormuz Strait for Commercial Ships
Iran declared the Strait of Hormuz fully open for commercial traffic, signaling a major de-escalation in tensions with the US and Israel. This move coincided with a ceasefire in Lebanon and led to a significant drop in oil prices, with Brent crude falling over 11% to around $88 per barrel. The development is seen as a key step toward ending the conflict and easing global economic pressures.
Topics: Ceasefire Geopolitical tensions Iran-US relations Oil prices Strait of Hormuz