Oil Prices Sink 10% as Trump Announces Strait of Hormuz is Fully Open

Iran's Foreign Minister Abbas Araghchi announced Friday that the Strait of Hormuz is "completely open" to commercial shipping for the remainder of the US-Iran ceasefire, a declaration that drew an immediate public thank-you from President Trump. "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 as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Araghchi wrote on X. Trump…