{"id":48121,"date":"2026-04-17T15:04:35","date_gmt":"2026-04-17T15:04:35","guid":{"rendered":"https:\/\/ipp-news.com\/?p=48121"},"modified":"2026-04-17T15:04:35","modified_gmt":"2026-04-17T15:04:35","slug":"oil-falls-by-over-11-after-iran-fm-declares-strait-of-hormuz-open","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=48121","title":{"rendered":"Oil falls by over 11% after Iran FM declares Strait of Hormuz open"},"content":{"rendered":"
Oil prices plunged by about 11% on Friday, extending earlier losses, after Iran’s foreign minister\u00a0said\u00a0that passage for all commercial vessels through the Strait of \u200cHormuz was open for the remaining ceasefire period.<\/p>\n

Brent crude futures were $10.59, or 10.7%, lower at $88.80 a barrel at 1340 GMT, after falling to a session low of $87.71. US\u00a0West Texas \u200bIntermediate crude futures were down $10.80, or 11.4%, at $83.89 a barrel, after \u200btouching $83. Both contracts were trading at their lowest since March \u206011.<\/p>\n

“Comments from Iran’s foreign minister indicate \u200ba de-escalation as long as the ceasefire is in place, now we need to see also if the number of tankers \u200bcrossing the Strait increases substantially,” UBS analyst Giovanni Staunovo \u200bsaid.<\/p>\n

Read More: Iran FM announces Hormuz’s opening for all commercial vessels till ceasefire’s remaining duration<\/p>\n

Prices were already down earlier in the session as possible further talks \u200cbetween \u2060the US\u00a0and Iran at the weekend in Pakistan\u00a0and a 10-day ceasefire between Lebanon and Israel raised investors’ hopes that the war in the Middle East could be nearing an \u200bend.<\/p>\n

Addressing a sticking point in talks, United States\u00a0\u200cPresident \u2060Donald Trump said Tehran had offered not to possess nuclear weapons for more than 20 years.<\/p>\n

“We’re going to see what happens. But I think we’re very close to making a deal with Iran,” Trump told reporters outside the \u200bWhite House on Thursday.<\/p>\n

A \u200bUS\u00a0official told Reuters \u2060shortly after the announcement that the strait was open that a military blockade of Iran involving more than 10,000 \u200bpersonnel remains in effect.<\/p>\n

While the opening up of the strait \u200bwas a \u2060step in the right direction, the European market would remain tight for a while, analyst Ole Hvalbye at SEB Research said, since it takes roughly 21 \u2060days for \u200bships to move from the Gulf to \u200bRotterdam, the main crude port in the region.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices plunged by about 11% on Friday, extending earlier losses, after Iran’s foreign minister\u00a0said\u00a0that passage for all commercial vessels through the Strait of \u200cHormuz was open for the remaining ceasefire period. Brent crude futures were $10.59, or 10.7%, lower at $88.80 a barrel at 1340 GMT, after falling to a session low of $87.71. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-48121","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/48121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48121"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/48121\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}