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President Trump and Iran's foreign minister say the Strait of Hormuz is now fully open.
In a social media post, U.S. President Donald 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 U.S. blockade of the strait, but Trump said the blockade would “remain in full force” until Iran reaches a deal with the U.S. to end war.
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.
Predictions markets for everything from when the conflict will end to the price of Brent Crude Oil were each moving into more favorable territory with the latter price now favored to be well under $85 compared to an average slightly above the $100 mark over the last couple of weeks. Traders were giving the price of Brent Crude Oil under $80 greater than an 80% chance at Polymarket.
Traders were bullish on the Iran/USA/Israel conflict ending this month with greater than a 90% chance of this occurring.
- T.C. Jackson, Gambling911.com
