Updated 17 April 2026 at 17:11CoinCex editorial review
Strait of Hormuz Reopens Under Ceasefire, Oil Prices Drop Sharply
#Markets and Prices Iran OIL United States US
Iran's Foreign Minister Abbas Araghchi confirmed the Strait of Hormuz is now 'completely open' as part of a ceasefire agreement. WTI and Brent crude futures fell more than 10%, with Brent dropping to $87.19.
The announcement was made by Iran’s Foreign Minister Abbas Araghchi, who specified that as part of the ceasefire, the Strait of Hormuz was “completely open.” Oil futures plummeted, with the WTI and Brent benchmarks falling over 10%, reaching below $90. Key Takeaways: Iran reopened the Strait of Hormuz, crashing Brent futures 10% to $87.19 and […]
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