BREAKING: Iran Caves To Trump, Opens Strait Of Hormuz

Iran signaled a major shift Friday, declaring the Strait of Hormuz open to commercial shipping as a fragile ceasefire between Israel and Lebanon takes hold. “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,” Foreign Minister Seyed Abbas Araghchi said in a social media post. He added that ships must follow a “coordinated route” set by Iran’s maritime authorities. The move drew a quick response from Donald Trump, who thanked Iran publicly. Markets reacted just as fast, with oil prices plunging more than 11% on the news as fears of supply disruptions eased. The announcement comes a day after Israel and Lebanon agreed to a 10-day ceasefire set to begin at 5 p.m. ET Thursday.