Posted on 04/17/2026 7:02:03 AM PDT by lasereye
The price of oil plunged sharply and U.S. stock indexes opened at new all-time highs after the Iranian foreign minister said that the Strait of Hormuz was open for commercial vessels.
U.S. crude oil plunged 10% to nearly $85 per barrel, while international Brent crude also slid more than 8% to around $90 per barrel.
Heating oil futures, which are a proxy for jet fuel, plummeted 13%. Wholesale RBOB gas futures also fell 7%.
At the opening bell, the S&P 500 rose 0.6% and the Nasdaq Composite jumped 1%. Both set new all-time highs in early trading as a result.
IRAN DECLARES HORMUZ OPEN: The crucial Strait of Hormuz trade route "is declared completely open" for commercial vessels for the remaining period of the ceasefire, Iranian Foreign Minister Abbas Araghchi has said. Ships will have to use a coordinated route, he said, adding that the move was made in line with the Israel-Lebanon ceasefire.
STOCKS SURGE, OIL DROPS: Stocks surged higher and the price of oil dropped on the news, though it was not immediately clear what it would mean for concerns about mines in the key waterway.
U.S. BLOCKADE REMAINS 'IN FULL FORCE': President Donald Trump hailed the news and thanked Tehran, but said the U.S. blockade of Iranian ports "will remain in full force" until the two sides reach a peace deal. Negotiations “should go very quickly," he said.
ISRAEL-LEBANON CEASEFIRE: A 10-day ceasefire between Israel and Lebanon appeared to be holding, with civilians rushing home to destroyed villages in southern Lebanon even as Israel vowed its military would not withdraw. Iran-backed militant group Hezbollah said it was keeping its finger "on the trigger."
DEATH TOLL: Iran’s forensics chief said more than 3,300 people had been killed in the country since U.S.-Israeli strikes began Feb. 28. More than 2,100 people have been killed in Lebanon, 32 have been killed in Gulf states, and 23 have died in Israel. Thirteen U.S. service members have been killed, and two more died of noncombat causes.
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Iran declares
Someone found the bottle with a note in it.
“I’m shakin’ it, boss!”
Iran figures now if they just play nice, eventually the Democrats will regain power, and then it’s right back to “Business as Usual”.
Someone found the bottle with a note in it.
Woke up this morning, don’t believe what I saw....
oh... NOW they want it open
So they can threaten ships again?
and there goes Irans last chip and the medias last talking point...looks like a total Trump victory!! Oil prices plunging, down to 81 dollars a barrel....next up, Cuba!!....
But the Mullahs survive to fight another day.
“But the Mullahs survive to fight another day.”
We don’t know that yet
Who’s your daddy!
“””But the Mullahs survive to fight another day.”””
Something tells me that Trump will remember Reagan’s phrase “Trust, but verify”.
I suspect Iran will be highly scrutinized in the future.
He’d better. Because Iran can see what’s going on and knows all they have to do is wait it out.
This could be a great, no downside, move for Iran.
If traffic moves through the straits, Iran gets money from tolls.
If Trump maintains the blockade, as he has, Trump gets blamed for high prices and reduced petroleum products availability.
That’s the plan and many Americans are too obtuse to get it.
WTI Crude $84
Brent Crude $89
WINNING!
Thanks again Mr. President.
Site to track oil prices if your interested.
Do you really think the mullahs are going to stay in power after the locked down Iranians get the full scoop of the damage to Iran that the retarded, mad dog mullahs did? They have been humbled and discredited.
“Iran gets money from tolls”
And tanker companies can charge a ‘Kharg Island loading fee’ in the future to get the money back.
Will have to see how this plays out.
Markets have moved hard both ways in the past weeks
If they’ve survived so far, why not?
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