Overview
- Iran, which declared Friday the Strait of Hormuz "completely open" to commercial ships for the 10‑day Lebanon ceasefire, said traffic must follow designated routes under its oversight and barred military vessels.
- President Donald Trump welcomed the reopening and then said the U.S. Navy’s blockade on ships to and from Iranian ports will stay in force until a deal is “100% complete,” keeping pressure on Tehran as talks continue.
- Oil dropped roughly 10% after the announcement, reflecting relief over a key chokepoint for about one‑fifth of seaborne oil and liquefied gas and offering near‑term cost relief for shippers and consumers.
- The Israel–Hezbollah pause appeared to hold as families began returning toward southern Lebanon and south Beirut, even as Israel signaled it would keep positions in a border “security zone” and the U.S. framed any Israeli actions as limited to self‑defense.
- Signals of a deal remain mixed, with Iranian semi‑official outlets questioning approval for the Hormuz move and Iranian media disputing Trump’s claim that Tehran agreed to hand over highly enriched uranium.