Iran opens Strait of Hormuz, receives thanks from Trump: Oil prices drop

Araghchi announced that the Strait of Hormuz would be open to all commercial vessels in parallel with the Lebanon-Israel ceasefire. Immediately following Iran's announcement, US President Trump thanked Iran for the decision to open the strait. It was noted that the US leader referred to the Strait of Hormuz as the "Iranian Strait."

Abbas Araghchi stated that the passage of vessels would be conducted via the route announced by the Iranian Ports and Maritime Organization. According to Iranian state media, an official from the Iranian military said that warships would not be permitted to pass through the strait.

The ceasefire between Israel and Lebanon began as of 00:00. US President Donald Trump had announced that the ceasefire would last for 10 days.

Iran had decided to close the Strait of Hormuz immediately following the attacks by the US and Israel on February 28. Approximately two thousand ships, carrying more than 20 thousand sailors, had been unable to pass through the strait due to security concerns.

JET-SPEED THANKS FROM TRUMP

Following Araghchi's Hormuz announcement, Trump thanked Iran in a post on Truth Social. Referring to the Strait of Hormuz as the "Iranian Strait," the US leader wrote, "IRAN HAS ANNOUNCED THAT THEY HAVE FULLY OPENED THE IRANIAN STRAIT AND ARE READY FOR FULL PASSAGE OF SHIPS. THANK YOU."

'BLOCKADE WILL CONTINUE'

In a second post regarding the strait, Trump wrote, "THE STRAIT OF HORMUZ IS READY FOR COMMERCIAL AND FULL PASSAGE AND IS FULLY OPEN. HOWEVER, THE PART OF THE BLOCKADE CONCERNING IRAN WILL CONTINUE UNTIL OUR DEAL WITH IRAN IS 100 PERCENT COMPLETED."

Trump stated that this process would move quickly as an agreement had been reached on most points.

REACTION TO NATO: THEY WERE USELESS WHEN NEEDED

In his next post, Trump reacted to NATO with the following words:

"I received a call asking if help was needed from NATO once the situation in the Strait of Hormuz ended. I told them to stay away if they don't want to fill their ships with oil. They were useless when needed, a complete paper tiger!"

THANKED 3 COUNTRIES

The US President also thanked the United Arab Emirates, Saudi Arabia, and Qatar for their "courage and assistance."

OIL PRICES FELL SHARPLY

Following the opening of the Strait of Hormuz to ship traffic, there was sharp volatility in gold and oil. The decline in Brent crude exceeded 10 percent. As of 15:55, US crude oil was trading below 85 dollars, and Brent crude was trading below 90 dollars.

Following Trump's statement to reporters at the White House yesterday that "we are very close to a deal with Iran," the price of Brent crude had fallen sharply. The barrel price of Brent crude, which had risen to 99.80 dollars yesterday, closed the day at 99.39 dollars.

WHAT HAPPENED?

Although Pakistani Prime Minister Shehbaz Sharif, the mediator of the ceasefire agreement reached between Iran and the US on April 8, announced that the ceasefire also covered Lebanon, the US administration later argued that Israel's attacks on Lebanon were not part of the temporary ceasefire made with Iran.

Iranian officials also stated that the ceasefire included the cessation of all conflicts and wars in the region, including in Lebanon, and made statements indicating that negotiations with the US were dependent on the declaration of a ceasefire in Lebanon.

News Source: 12punto