Iranian Foreign Minister Abbas Araqchi said the Strait of Hormuz was "fully open" during the ceasefire, in accordance with the agreement between Israel and Lebanon.
Immediately after the announcement from Tehran, US President Donald Trump posted a short message, "Thank you!", on Truth Social.
World oil prices plunged 11%, extending their earlier decline, following the news. Specifically, Brent crude futures lost $11.12, or 11.2%, to $88.27 per barrel at 1:11 PM (US time). Meanwhile, US WTI crude also fell $11.40, or 12%, to $83.29 per barrel.
These signals are reinforcing investor confidence that the conflict in the Middle East may be nearing its end, thereby easing the risk of disruptions to global energy supplies.
Iranian Foreign Minister Abbas Araqchi posted the information on X.
The Iranian Foreign Minister's statement came after US President Donald Trump announced that Israel and Lebanon had reached a 10-day ceasefire agreement, beginning on April 16. According to Trump, this agreement could pave the way for lasting peace between the two countries.
Iran had previously stated that any peace agreement with the US must include Israel ceasing its attacks on Hezbollah, the Iranian-backed force in Lebanon.
Iran denies pursuing nuclear weapons.
Iranian President Masoud Pezeshkian asserted that Tehran "is not seeking and has never sought" nuclear weapons, while emphasizing that the country pursues regional peace and stability within the framework of international law.
However, Iran's nuclear ambitions remain a major sticking point in US-Iran negotiations. In the most recent round of talks, Washington proposed suspending all of Iran's nuclear activities for 20 years, while Tehran only accepted a temporary halt of 3–5 years.
Source: Reuters
