Iran Reopens Strait Of Hormuz—But Trump Says U.S. Naval Blockade Stays

Iran reopened the Strait of Hormuz to all commercial shipping traffic, a move that caused oil prices to plummet. However, President Trump stated that the US naval blockade on Iran would remain until a permanent peace deal is reached. Iran's foreign minister confirmed the strait's opening for commercial vessels during the 10-day ceasefire between Israel and Lebanon, which ended Israel's attacks on Hezbollah militants. Following the announcement, crude oil futures dropped about 10%, falling below $82 a barrel. Trump celebrated the reopening but reiterated that the US naval blockade would stay in effect until the "transaction with Iran is 100% complete," despite anticipating a speedy resolution. The US naval blockade, implemented on Monday, was expanded to international waters, with General Dan Kaine stating the US Navy would pursue any Iranian-flagged vessel or those providing material support to Iran. French President Macron and UK Prime Minister Starmer are hosting a meeting in Paris to discuss an international coalition to secure the Strait of Hormuz after the conflict ends, as US allies have so far refused to assist.