Oil plunges, stocks jumps as Iran declares Hormuz open

Oil prices plunged much than 10% connected Friday (April 17, 2026) aft Iran said the Strait of Hormuz would beryllium “completely open” for the remainder of the ceasefire with the United States, and banal markets surged.

Iran’s Foreign Minister Abbas Araghchi said connected X that “passage for each commercialized vessels done Strait of Hormuz is declared wholly unfastened for the remaining play of ceasefire”.