Posted on 04/17/2026 9:40:01 AM PDT by RandFan
Oil prices have plummeted after Iran said the Strait of Hormuz would be "completely open" to commercial ships for the remainder of the ceasefire.
The cost of a barrel of Brent crude fell to $88 dollars a barrel, having been above $98 earlier on Friday.
The Strait of Hormuz is a narrow strip of water linking the Gulf to the Arabian sea, through which a fifth of the world's oil and liquified natural gas is typically transported.
US President Donald Trump welcomed Iran's statement, but maritime groups are still verifying the Iranian announcement.
Iranian Foreign Minister Abbas Araghchi said: "The passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire."
Global markets rallied on the announcement, with the major US stock indices rising in early trading. The S&P 500 rose by 0.8%, while the Nasdaq and Dow Jones Industrial Average (DJIA) were both up by more than 1%.
European shares also rose in reaction to the news.
(Excerpt) Read more at bbc.co.uk ...
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I don’t know why this is surprising.
Trump, and virtually all financial analysts, were saying this was obviously going to happen.
Gee, Trump was right, again. Those who bought tons of oil sticks are crying now.
Who said it’s open?
IRGC?
Or the President?
Hang on! The Euros are coming *cough* when the shooting stops. Oh it’s stopped? Well then, they’re coming when they finish all their jabbering in meetings about the problem which *cough, cough* doesn’t exist anymore. Oh yeah, and whatever they do will be strictly defensive. (Note: What they really are scheming to do is take over the oil.)
Now that Iran knows just how easily we can collapse their entire economy, I’ll be very surprised if they don’t turn over all of their uranium within the next week or two.
Iranian President?
European leaders have gathered in Paris for talks over the Strait:
Germany and France are at odds over whether to cut Donald Trump out of patrolling the Strait of Hormuz once the war in Iran ends.
Before a summit to draw up plans for a naval coalition to reopen the waterway, Friedrich Merz, the German chancellor, insisted he wanted to “discuss the participation of US armed forces” in the mission.
Emmanuel Macron, the French president, however, wants to exclude “belligerent countries” – the United States, Israel and Iran – from any deployment.
Planning is under way to build a “coalition of the willing” to send warships and other mine-clearing vessels under British and French leadership to the Strait of Hormuz.
This may not be unconditional surrender, but it is pretty darn close…..or at least close enough.
Currently dropped to $81.
Trump had all the cards from day 1.
Now let’s get gas prices back to where they were and knock off the price gouging and manipulation. The US imports zero barrels of oil that pass thru Hormuz anyway so this never should have affected our prices as we are energy independent. But it did, and now it’s time to un-do it.
When this is all said and done, I think it won’t reach pre-war levels of $65-67, but will bottom and stabilize in the low $70’s.
Yeah but Iran is the one that said its gonna be open so basically they are saying “Yeah we control it and now its open” even though there is currently a blockade that is in effect
Oh no France, the french frogs want a say, please, they surrendered before the war even happened, useless idiots
If this really happens, it’s the first time Iran didn’t lie.
Iran controls NOTHING now.
Trump rips ‘useless’ NATO after Strait of Hormuz reopening
This is laughable. How the hell are they going to do that? They have tossed their own defenses and culture into a dumpster in favor of welfare and letting invaders in their country assault their people.
As long as we say they can pass by.
Sorry. No capitulation. No surrender.
Iran said it would open the Strait last week, provided there was a ceasefire in Lebanon. Israel refused, so Iran refused.
Now Israel has agreed to a ceasefire -- thereby meeting Iran's condition -- so Iran agreed to open the Strait.
Never mind that the Strait was open before this war. So this war was never about "opening the Strait."
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