Trump cheers as oil costs PLUNGE after Iran declares Strait of Hormuz ‘utterly open’: ‘Ready for full passage’

Donald Trump hailed a major step toward peace with Iran after the regime’s leadership declared the Strait of Hormuz ‘completely open’ following Israel’s ceasefire with Lebanon.

Iran’s foreign minister announced Friday morning on social media that ‘all commercial vessels’ are now permitted to pass through the critical oil chokepoint, marking a full reopening after nearly a month-long shutdown.

‘In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran,’ wrote Seyed Abbas Araghchi.

Following the announcement, crude prices plunged 10 percent within minutes to $82 a barrel. The strait carries roughly one-fifth of the world’s oil supply.

Trump reacted on Truth Social by thanking the regime he once sought to topple: ‘IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!’

Iran had previously insisted the strait would only fully reopen if Israel agreed to a ceasefire in Lebanon, where Tehran-backed Hezbollah is active. On Thursday, Trump announced a 10-day ceasefire between Israel and Lebanon following a phone call with Benjamin Netanyahu. 

After peace talks with the Islamic regime collapsed last weekend in Pakistan, the President launched a naval blockade of the strait. Iran had halted nearly all commercial transport through the passageway since the start of the war by deploying explosive suicide boats, drones, and mines. 

Negotiations between the U.S. and Iran have picked up in recent days, with Washington weighing a proposal to release roughly $20 billion in frozen Iranian funds in exchange for Tehran surrendering its stockpile of enriched uranium, according to Axios.

Trump hailed a major step toward peace with Iran after the regime’s leadership declared the Strait of Hormuz ‘completely open’ following Israel ’s ceasefire with Lebanon

Iran had previously insisted the strait would only fully reopen if Israel agreed to a ceasefire in Lebanon, where Tehran-backed Hezbollah is active

The Strait of Hormuz is responsible for one-fifth of all global oil supply 

US-Iran peace talks have progressed as Pakistan continues to act as a middle man in negotiations 

‘Only announcements from President Trump or the White House — not anonymous sources — should be taken as fact,’ White House spokeswoman Anna Kelly said in response. 

‘Productive conversations with Iran continue, but we will not negotiate via the press.’

Trump said Thursday that US and Iranian negotiators would likely meet this weekend for a second round of talks before a two week ceasefire approaches its expiration on Tuesday.

A source familiar with the mediation efforts said the talks will take place in Islamabad on Sunday.

Trump also told reporters on Thursday that Iran agreed to hand over highly enriched uranium he claims was buried following US airstrikes on key Iranian nuclear facilities last year.

There has been no confirmation from Iran, however, that it made this concession during talks with US officials last week.

Trump also noted he was willing to extend the temporary ceasefire beyond the April 21 deadline if peace talks progress. 

Ensuring Iran cannot access their underground nuclear stockpiles, specifically the 450kg of 60 per cent enriched uranium, is a primary objective for the Trump administration.

Iran, meanwhile, is demanding full control over the Strait Hormuz, including the ability to tax foreign oil tankers.  

Notably, the President referred to the waterway as the ‘Strait of Iran’ rather than the the Strait of Hormuz in his Truth Social post celebrating the opening.