Trump and Iran say Strait of Hormuz is fully open

Beirut: US President Donald Trump and Iran's foreign minister said Friday that the Strait of Hormuz is now fully open to commercial vessels, as a 10-day truce in Lebanon appeared to hold.

The truce offered a pause in fighting between Israel and the Hezbollah militant group and could clear one major obstacle to a deal between Iran and the United States and Israel to end weeks of devastating war. But it remained unclear whether whether the militant group would recognize a deal it did not play a role in negotiating and which will leave Israeli troops occupying a stretch of southern Lebanon.

In a social media post, Trump said Iran announced that the strait "is fully open and ready for full passage."

Minutes earlier, Iranian Foreign Minister Abbas Araghchi posted on X that the passage for all commercial vessels through the strait "is declared completely open" in line with the ceasefire in Lebanon. He said it would stay open for the remaining period of the ceasefire.

It was not immediately clear what that meant for the US blockade of the strait, but Trump said the blockade would "remain in full force" until Iran reaches a deal with the US to end war.

Meanwhile in Beirut, barrages of gunshots rang out across the city as residents fired into the air just after midnight to celebrate the beginning of the truce, and displaced families began moving toward southern Lebanon and Beirut's southern suburbs despite warnings by officials not to attempt to return to their homes until it became clear whether the ceasefire would hold.

A spokesperson for the UN peacekeepers in southern Lebanon said Friday that they have not observed any airstrikes since midnight, but accused the Israeli military of violating airspace and artillery shelling in southern Lebanon. The Israeli military did not immediately comment. According to the agreement shared by the State Department, Israel can act in self-defense against imminent attacks but cannot carry out offensive operations against southern Lebanon.

Oil prices fall, but energy shocks could get worse

While oil prices fell on hopes of a deal, the head of the International Energy Agency warned that energy shocks could get worse if the Strait of Hormuz did not reopen soon. Iran closed the crucial waterway, through which a fifth of the world's oil normally passes, shortly after the war began. Europe has "maybe six weeks or so" of jet fuel left and broader economic consequences will grow the longer the strait is closed, IEA Executive Director Fatih Birol told The Associated Press on Thursday.