The strait of Hormuz is open to commercial vessels for the duration of the US-Iran ceasefire now a halt to fighting in Lebanon has been agreed, Iranian foreign minister Seyed Araghchi said today.
"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 co-ordinated route as already announced," Araghchi said.
Front-month Ice Brent crude futures fell sharply on the news, to trade down by nearly 10pc at below $88/bl.
