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Iran’s foreign minister Abbas Araghchi announced that the Strait of Hormuz is now fully open to commercial vessels, a statement that raised hopes for de‑escalation in the Middle‑East conflict and sent global oil prices tumbling. President Donald Trump took to social media to celebrate the news, proclaiming it a "great and brilliant day for the world" and asserting that Iran had pledged never to shut the strategic waterway again. Trump also claimed that Tehran had agreed to suspend its nuclear programme indefinitely and would forfeit any frozen U.S. funds, suggesting that a deal‑making session could occur over the upcoming weekend. In contrast, the Islamic Revolutionary Guard Corps (IRGC) offered only qualified support for Araghchi’s declaration, indicating that commercial traffic would be permitted only along a prescribed route and under IRGC naval permission. The United States, however, signalled that its naval blockade of Iranian ports will remain in force until all transactions are completed, warning that few vessels are likely to risk passage under the current uncertainty. Oil markets reacted swiftly: Brent crude slipped below $90 per barrel, easing inflationary pressures that had surged after the strait’s earlier closure. Simultaneously, a ten‑day truce in Lebanon entered its second day, temporarily halting Israeli airstrikes against Hezbollah‑aligned forces and offering a brief respite to civilians after weeks of intense fighting. Despite the truce, an Israeli drone strike in southern Lebanon killed a civilian, and Defence Minister Israel Katz reiterated that the Israeli Defence Forces were not withdrawing and could resume operations. In Paris, representatives from roughly 40 nations gathered at a conference co‑chaired by France and the United Kingdom to discuss a coordinated plan for safeguarding the strait, which historically carries about one‑fifth of the world’s oil and gas shipments. French President Emmanuel Macron welcomed Araghchi’s statement but urged a "full, unconditional reopening" by all parties, while UK Prime Minister Keir Starmer called for any reopening plan to be "lasting and workable". The International Maritime Organization’s secretary‑general, Arsenio Domínguez, said the agency is reviewing the announcement to ensure it complies with the principle of free navigation for all merchant vessels. Pakistan’s army chief Field Marshal Asim Munir, acting as a key mediator, arrived in Tehran to advance negotiations for a more durable peace, underscoring Pakistan’s growing diplomatic role in the region. Overall, while the Hormuz opening has eased immediate market pressures, the broader geopolitical landscape remains volatile, with the U.S.–Iran cease‑fire set to expire soon and regional actors still poised for further confrontation.

Iran’s attempt to impose tolls on vessels passing through the Strait of Hormuz has been labeled illegal by Arsenio Domínguez, the head of the United Nations’ International Maritime Organization (IMO). In an interview with Al Jazeera, Domínguez stressed that such charges would set a dangerous precedent for global shipping. Tehran has asserted its right to levy fees even after the conflict ends, while U.S. President Donald Trump floated the idea of a joint U.S.-Iran venture to collect the payments. Both proposals clash with established maritime conventions. "Countries do not have the right to introduce tools or payments or charges on these straits," Domínguez said, adding that any toll system would be contrary to international law and could cripple the free flow of trade. The remarks came as marathon cease‑fire negotiations between U.S. and Iranian officials in Pakistan concluded without an agreement. U.S. Vice President JD Vance noted that Tehran rejected Washington’s terms, which included a commitment to forgo nuclear weapons development, prompting the American delegation to depart Islamabad after presenting its "final and best offer." Iran’s state‑run Press TV blamed the stalemate on what it called the United States' "excessive demands," citing the toll issue and the nuclear programme as major points of contention. Despite a two‑week cease‑fire announced earlier in the week, maritime traffic remains severely limited. Only 22 vessels with active AIS signals exited the strait between the truce’s start and Friday, a stark drop from the pre‑conflict average of about 135 daily transits, according to S&P Global. The bottleneck is throttling oil and natural‑gas exports from the Gulf. The U.S. military reported that two warships had navigated the waterway to clear Iranian mines, a move Iran denied. President Trump later insisted the strait would reopen "fairly soon," with or without Tehran’s cooperation. Domínguez emphasized that ending the hostilities is the fundamental solution to restoring safe passage. He warned that any resumption of traffic must be accompanied by thorough de‑mining and safety checks to protect both vessels and crews. He also dismissed calls for new legal frameworks, noting that the 1968 traffic‑separation agreement between Iran and Oman—which splits the strait into north‑ and south‑bound lanes—had functioned effectively before the war and does not require revision. Humanitarian concerns feature prominently in Domínguez’s statements. He highlighted that roughly 20,000 seafarers are stranded in the Gulf due to the blockade, warning that prolonged isolation would not only harm these workers but also have a negative ripple effect on the global economy.

The recent US-Iran ceasefire agreement has not led to a significant change in the situation for ships trying to pass through the Strait of Hormuz. According to shipping analysts, there will be no 'mass exodus' of ships through the strait, despite provisions for a temporary reopening of the crucial maritime channel.The ceasefire agreement 'doesn't change the situation in the sense that Iran is still in control,' said Richard Meade, the editor-in-chief at maritime data provider Lloyd's List Intelligence. 'It still requires ships to essentially seek permission, and that's the key. That means that nothing has changed – no permission, no transit.'An estimated 2,000 ships and 20,000 seafarers have been trapped in the Persian Gulf since the outbreak of war at the end of February, according to the UN, unable to pass through the strait to continue their journeys. The trapped vessels include oil and gas tankers, bulk carriers, and cargo ships as well as six tourist cruise liners.Under Iran's 10-point ceasefire plan, the country's foreign minister said safe passage through the strait would be allowed under Iranian military management. However, analysts believe that Iran will continue to control the flow of traffic, and few expect traffic to return to normal daily averages during the two-week ceasefire.The head of the UN shipping agency, the International Maritime Organization (IMO), welcomed the ceasefire and called for a safe evacuation of seafarers from the Gulf. Arsenio Dominguez, the secretary-general of the IMO, said: 'I am already working with the relevant parties to implement an appropriate mechanism to ensure the safe transit of ships through the strait of Hormuz. The priority now is to ensure an evacuation that guarantees the safety of navigation.'

Closing the Strait of Hormuz has choked a vital artery that carries roughly one‑fifth of the world’s crude oil and LNG, sending energy prices soaring and unsettling global trade. Even if the waterway reopens tomorrow, analysts say the ripple effects will endure for months. Nils Haupt, senior director of corporate communications at German carrier Hapag‑Lloyd, told Al Jazeera that the end of hostilities does not equate to the end of logistics challenges. “Once the bombardments stop, the real work begins,” he said, noting that hundreds of vessels will scramble for berths in Persian Gulf ports, creating a prolonged bottleneck for containers and bulk cargo. According to the International Maritime Organization, about 2,000 ships are currently stranded because of Iran’s partial blockade, with only a handful of vessels from “friendly” nations granted passage. Maritime‑intelligence firm Windward estimates that roughly 400 of those ships are anchored in the Gulf of Oman, waiting for a green light. Diverted traffic has already forced many carriers to reroute via the Suez Canal or take the far longer Cape of Good Hope passage, inflating transit times and costs for shipments bound for Asia and Europe. Oil exports from Saudi Arabia are now being sent around the Red Sea, bypassing the strait entirely. Svein Ringbakken, managing director of the Norwegian Shipowners’ Mutual War Risks Association, cautioned that even with ports operating at full capacity, clearing the backlog of oil, gas and other goods will take months. He added that repeated attacks on regional energy and transport infrastructure have compounded the problem. The International Energy Agency reports that more than 40 energy assets across the Middle East have suffered “severe or very severe” damage, prompting companies such as QatarEnergy, Kuwait Petroleum Company and Bahrain’s Bapco Energies to declare force majeure. Beyond the immediate loss of flow, the shutdown has disrupted exports of petrochemicals, fertilisers and raw materials essential for plastics production, further straining global supply chains. Industry leaders warn that the risk landscape has fundamentally shifted. SV Anchan, chairman of US‑based logistics group Safesea, highlighted the rise of asymmetric threats, including unmanned vessel attacks, which have already accounted for at least 18 confirmed assaults since the conflict began. “A full reopening will only bring normalcy after a sustained period of stability and credible security guarantees,” Anchan said. Insurance costs have exploded as a result. Marco Forgione of the Chartered Institute of Export & International Trade noted that hull and cargo premiums have surged up to 300 %, a pressure point that could force shipping firms to curtail operations if rates remain high. Oscar Seikaly, CEO of NSI Insurance Group, stressed that war‑risk coverage will only normalize when a “truly permanent” security solution is in place, not a partial one. Recent data from Lloyd’s List show that a few vessels have managed to obtain Tehran’s permission to transit, with one ship reportedly paying $2 million for the right to pass. Iranian lawmakers have also moved to formalise transit fees for the strait. Nick Marro, lead global‑trade analyst at the Economist Intelligence Unit, warned that the security guarantees demanded by shippers may be hard to meet, citing the volatile Red Sea experience where commercial traffic remains below pre‑2023 levels. Marro predicts that the Hormuz shutdown will accelerate a broader trend of route diversification, similar to the supply‑chain shifts triggered by the COVID‑19 pandemic. “Geopolitical uncertainty will become a permanent feature of risk management, not a temporary reaction,” he said. Seikaly echoed this outlook, suggesting that exporters will increasingly explore alternative corridors for strategic and political reasons, ultimately reducing traffic through the Strait of Hormuz over the long term.

The ongoing conflict between Iran and the US-Israel alliance has severely disrupted shipping through the Strait of Hormuz, a vital passage for about a fifth of the world's oil and gas supplies and a third of global fertilisers necessary for food production.Before the conflict, an average of 138 ships a day transited the strait. However, following the escalation, 100 vessels have exited the Gulf and only 40 have entered in the past month, according to Lloyd’s List Intelligence.Despite over 20 reported attacks on ships in the region, including near-misses and damage to vessels, some ships are still attempting to cross, with Iran permitting 'non-hostile vessels' to use a 'safe corridor' in its territorial waters. This route allows Iranian authorities to visually verify vessels and potentially demand payment for safe passage.The International Maritime Organization (IMO) has raised concerns about the 20,000 seafarers stranded in stressful conditions with dwindling supplies. Over 30 countries have agreed to work together to safeguard the strait, with the UK offering to host an international security summit to devise a plan to reopen it.

Iran has assured that 'non-hostile' vessels can safely pass through the Strait of Hormuz, a vital shipping route for about one-fifth of the world's oil and liquified natural gas supplies. The assurance comes amid a significant collapse in maritime traffic through the strait, which has contributed to a major global energy crisis.In a statement released through its mission to the United Nations, Iran specified that ships would be allowed to transit the strait 'provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations.'The development follows a sharp decline in shipping traffic through the strait, with only about 5 vessels passing through daily, compared to an average of 120 daily transits before the US-Israel conflict began. This reduction has led to a surge in global energy prices, with Brent crude experiencing significant fluctuations.Iran's statement also mentioned that ships will be allowed to transit 'in coordination with the competent Iranian authorities.' The country has shared similar assurances with the International Maritime Organization (IMO), the UN body responsible for international shipping safety and security.The move comes as US President Donald Trump mentioned ongoing negotiations to end the conflict with Iran, despite Tehran's previous denials of talks. The situation remains complex, with global markets closely watching for any signs of resolution.

Global markets experienced a significant shift as stock markets in Asia and Europe rose following reports that US President Donald Trump had sent a 15-point framework for peace to Iran. This development sparked hopes of a ceasefire in the Middle East, influencing market sentiment. The price of oil, which had fallen by 4% in early trading to below $100 (£75) per barrel of Brent crude, later recovered to approximately $100. This fluctuation was driven by the prospect of an end to the conflict easing the squeeze on oil supply. The straits of Hormuz, a vital shipping lane through which 20% of global oil supplies transit, had been effectively closed by Iran, causing a significant disruption to oil and gas shipments. Iran's announcement that it would permit “non-hostile” ships to pass safely through the strait of Hormuz helped to reopen this crucial waterway. This move, combined with the potential peace plan, contributed to the positive market sentiment. Stock markets in Asia saw notable gains, with Japan’s Nikkei rising by 2.9%, India’s S&P; BSE Sensex almost 2% higher, and Hong Kong’s Hang Seng up by just under 1%. European markets also saw increases, with the FTSE 100 in London up by almost 1%, Germany’s Dax trading 1.6% higher, and France’s Cac 40 climbing by 1.4%. However, Iran’s foreign affairs ministry informed the UN Security Council and the International Maritime Organization that “non-hostile” vessels could pass through the strait, which also poses a risk to global food security due to the disruption of fertiliser supplies. The World Trade Organization warned that this could lead to food price shocks. The conflict's impact on gold prices was also noted, as the metal traditionally seen as a safe haven asset during troubled times experienced a 13% decline to about $4,460 per ounce. Additionally, Larry Fink, CEO of BlackRock, warned that a prolonged conflict could lead to oil prices rising to $150 a barrel, potentially triggering a global recession.