Oil prices plunged more than 10% and stocks jumped after Iran said the [Strait of Hormuz is "completely open"](https://www.wsj.com/livecoverage/iran-war-us-talks-2026/card/oil-prices-fall-after-iran-says-strait-of-hormuz-is-open-O3Ajb7IUoo7ByKC7rqw8) to commercial vessels following a cease-fire in Lebanon. President Trump posted on Truth Social shortly afterward that the U.S.’s naval blockade on Iranian ports would “remain in full force.”
The comments from Iran's foreign minister on X came as a newly struck [cease-fire](https://www.wsj.com/livecoverage/iran-war-us-talks-2026/card/cease-fire-takes-effect-between-israel-and-hezbollah-ah2lanwZS1TiEnpuCnj7) between Israel and Lebanon appeared to be holding on its first day. The 10-day truce began at midnight local time after weeks of fighting between the Israeli military and the Iran-backed Lebanese militant group Hezbollah.
