Iran declares the Strait of Hormuz completely open this Friday, and the price of oil plummets nearly 10% in a few hours — the largest drop since the beginning of the conflict.

Written by Douglas Avila

Published on 18/04/2026 at 09:02

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Iranian minister announced free passage for all commercial ships during ceasefire — Brent fell $9 to $90.38 and WTI dropped 9.4% to $82.59 in a single trading session

Iran declared on Friday (17) that the Strait of Hormuz is completely open for the passage of all commercial vessels.

The announcement was made by Foreign Minister Seyed Abbas Araghchi, according to G1.

The reopening is valid during the ceasefire between Israel and Hezbollah in Lebanon, established on Thursday (16).

ARTICLE CONTINUES BELOW

Oil plummets nearly 10%

The market reaction was immediate and brutal.

The barrel of Brent for June closed at $90.38 on the ICE, down 9.06% — a loss of $9.01 in a single day.

The WTI for May fell 9.41%, closing at $82.59 on the Nymex, a drop of $8.58.

For the week, WTI has already lost 14.5% and Brent has dropped 5.06%, according to Times Brasil.

This is the largest daily drop since the conflict between the US, Israel, and Iran began in February.

What Araghchi said

“According to the ceasefire in Lebanon, the passage for all commercial ships through the Strait of Hormuz is declared completely open, on the route coordinated already announced by the Ports and Maritime Organization of the Islamic Republic of Iran,” the minister stated.

The ceasefire has an initial deadline until Tuesday (April 21), which may be extended.

The agreement was signed by President Trump on April 7, after nearly two months of partial blockage of the Strait.

During this period, only a few commercial vessels were transiting daily, according to Portal MIE.

What changes in practice

With ships circulating freely, freight and marine insurance costs are expected to drop in the coming days.

For Brazil, the drop in oil alleviates inflationary pressure on fuels.

However, oil company stocks are suffering. Petrobras lost 6% on the stock market on Friday.

Aviation companies like Azul rose 2.08%, benefiting from cheaper kerosene.

Caution: The president of the Iranian Parliament, Mohammad Bagher Ghalibaf, warned that “with the continuation of the blockade [naval by the US], the Strait of Hormuz will not remain open“. The reopening may be reversed if Washington maintains the blockade on Iranian ports.

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Iran declares the Strait of Hormuz completely open this Friday, and the price of oil plummets nearly 10% in a few hours — the largest drop since the beginning of the conflict.

Iranian minister announced free passage for all commercial ships during ceasefire — Brent fell $9 to $90.38 and WTI dropped 9.4% to $82.59 in a single trading session

Oil plummets nearly 10%

What Araghchi said

What changes in practice

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Iran declares the Strait of Hormuz completely open this Friday, and the price of oil plummets nearly 10% in a few hours — the largest drop since the beginning of the conflict.

Iranian minister announced free passage for all commercial ships during ceasefire — Brent fell $9 to $90.38 and WTI dropped 9.4% to $82.59 in a single trading session

Oil plummets nearly 10%

What Araghchi said

What changes in practice

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

While the world was paying more for fuel, the 100 largest oil companies on the planet raked in an extra $23 billion in just 30 days of blockage in the Strait of Hormuz.

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