3 min readUpdated: Apr 17, 2026 08:27 PM IST
Iran on Friday said that the Strait of Hormuz is “completely open” for all commercial vessels. “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 the ceasefire,” Foreign Minister Abbas Araghchi said in a post on X.
He said the passage of ships would need to be along the route that Iran’s Ports and Maritime Organisation had announced.
Confirming the development, US President Donald Trump said the Strait of Hormuz is now fully open. Trump on Thursday announced a 10-day ceasefire between Lebanon and Israel. He, however, said the US blockade of Iran “will remain in full force” until Tehran reaches a deal with Washington to end the war.
“The Strait of Hormuz is completely open and ready for business and full passage, but 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,” he wrote on Truth Social in all caps.
— Department of State (@StateDept) April 17, 2026
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The US-Israeli attack on Iran, which started on February 28, has killed thousands of people and destabilised the Middle East. The conflict also effectively closed the Strait of Hormuz, through which a fifth of the world’s oil and liquefied natural gas transits, threatening the worst oil shock in history.
Global markets surge
🇺🇸 US Markets
1
Netflix
Revenue outlook flat; Reed Hastings to exit board
LOSER
−11.5%
2
State Street
Q1 earnings beat expectations
GAINER
+2.9%
3
Fifth Third Bancorp
Better-than-expected Q1 profit
GAINER
+1.9%
4
Dow Jones
+678 pts as of 9:35 am ET
GAINER
+1.4%
5
Nasdaq Composite
Third straight week of big gains
GAINER
+1.0%
6
S&P 500
Up 11%+ from late-March bottom
GAINER
+0.8%
🌍 Global Markets
7
Germany DAX
Leaps on Hormuz reopening news
GAINER
+2.2%
8
France CAC 40
Surges after Iran announcement
GAINER
+2.0%
9
Japan Nikkei 225
Asian session closed before Hormuz news
LOSER
−1.8%
10
Hong Kong Hang Seng
Asian session closed before Hormuz news
LOSER
−0.9%
WTI Crude (US)
$81.28
▼ 10.8% today
Benchmark US crude
Brent Crude (Intl)
$89.13
▼ 10.3% today
International standard
Today’s Oil Moves
1
WTI Crude
$81.28 · Benchmark US crude
LOSER
−10.8%
2
Brent Crude
$89.13 · International standard
LOSER
−10.3%
War Premium: Current Price vs Pre-War Baseline (~$70)
⚠ Despite today’s crash, Brent remains ~$19/barrel above pre-war levels. Markets are still pricing in residual war risk — peace is not yet fully priced in.
📍 Key Catalyst
Strait of Hormuz Fully Reopens
Iran declares the strategic waterway fully open. Oil tankers can now exit the Persian Gulf and reach global markets — the clearest signal yet that supply disruption fears are easing.
~20% of global oil supply
🕊 Peace Signal
Trump: War “Should Be Ending Pretty Soon”
President Trump’s late-Thursday statement was his most optimistic assessment yet. Combined with the Hormuz reopening, it drove Wall Street to a third straight week of big gains from its late-March bottom.
S&P 500 +11% from Mar low
⚠ Caution Flag
War Premium Still Embedded in Oil
Despite today’s 10%+ crash, Brent crude at $89.13 remains well above its pre-war level of ~$70. A $19/barrel war premium indicates financial markets are not yet fully confident the conflict is over.
$19/barrel war premium
📉 Inflation Relief
Treasury Yields Ease as Oil Falls
Falling oil prices are easing inflation pressure. The 10-year US Treasury yield dropped to 4.24% from 4.32% late Thursday — a meaningful move signalling reduced inflation expectations in bond markets.
10-yr yield: 4.24%
Source: AP (Stan Choe, AP Business Writer) · Data as of April 17, 2026, 9:35 am ET · Pre-war Brent baseline (~$70) refers to price prior to Iran war onset · All % changes intraday
Stocks and bond prices jumped, while oil and the dollar fell sharply after Iran’s announcement. Oil dropped as much as 10% to below $90 a barrel immediately after the news, while short-dated government bond yields tumbled as investors priced out the likelihood of near-term rate hikes, especially in Europe, and stocks surged.
The dollar, which has acted as a safe-haven since the start of the war in late February, fell sharply against the euro, pound and yen.
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The International Monetary Fund this week lowered its forecasts for global growth and warned the global economy risked tipping into recession if the conflict was prolonged.
Trump had said on Thursday that talks could happen as soon as this weekend, although that was looking increasingly unlikely by Friday afternoon, given the logistics of assembling officials in the Pakistani capital, Islamabad, where the talks are expected to take place.
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