Iran has announced that the Strait of Hormuz is open for commercial shipping following a temporary ceasefire in Lebanon, raising hopes for de-escalation in the region.
Iranian Foreign Minister Abbas Araghchi said the vital oil route would remain accessible during the US-brokered 10-day truce between Israel and Hezbollah, allowing global energy supplies to stabilize.
Meanwhile, U.S. President Donald Trump expressed optimism that a deal to end the Iran conflict could be reached “soon,” although no clear timeline has been confirmed.
The Strait, which carries nearly 20% of the world’s oil and LNG, had effectively been shut during the conflict, triggering fears of a global energy crisis. Following Iran’s announcement, oil prices dropped sharply, extending earlier losses.
Despite the positive signals, the situation remains complex. The United States has maintained its naval blockade on vessels heading to Iranian ports, stating it will remain in place until a final agreement is reached.
Diplomatic efforts, including talks expected in Islamabad, continue behind the scenes. Sources indicate progress toward a potential memorandum of understanding, with a broader agreement possibly within 60 days.
However, major disagreements persist — particularly over Iran’s nuclear program, sanctions relief, and the handling of enriched uranium.
While a US-backed ceasefire in Lebanon appears largely intact, tensions remain high, with reports of violations and strong rhetoric from Iranian religious leaders rejecting external pressure.