Iran has announced on Friday, shortly before 15:00 CEST, 14:00 BST, that the Strait of Hormuz will reopen during the ceasefire reached between Israel and Lebanon that began on Thursday, and will last for ten days. Iran's Foreign Minister Seyed Abbas Araghchi confirmed it: "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".
The reopening of the Strait of Hormuz has brought immediate relief to the markets, with petrol price falling 10%, as reported by El País, and to the International Energy Agency, who warned this week that planes in Europe may be running out of fuel in a matter of six weeks.
The reopening is initially temporary, during the ten days of ceasefire (that started on Thursday) reached between Lebanon and Israel, although Lebanon has continued to report Israeli attacks even after the ceasefire.
Donald Trump is confident that the war in the Middle East will end soon. Reacting to Iran's announcement, Trump confirmed that the Strait is indeed "open and ready for business", but their naval blockade will remain in place until a deal with Iran is reached, via Al Jazeera. He added that the process should go "very quickly as most of the points are already negotiated".
