LONDON, April 17 : Stocks and bond prices jumped on Friday, while oil and the dollar fell sharply after Iran's foreign minister said passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire, in line with the ceasefire in Lebanon.Oil drop

British military says Iranian gunboats fired on a tanker in the Strait of Hormuz, hours after Tehran reimposed shipping restrictions; crew is safe.

Iran says the Strait of Hormuz is open to commercial shipping during the Lebanon ceasefire, triggering a sharp drop in oil prices, while Donald Trump welcomed the move but kept a US naval blockade in place. At the same time, Emmanuel Macron and the UK are leading plans for a neutral mission to secure the route, as shipping firms remain cautious and seek further clarity.

In an interview with RFE/RL on April 17, Ryan Kirkley, CEO of blockchain payments company Global Settlement Network, explained the worldwide economic importance of the Strait of Hormuz, why markets are moving at varying paces, and why oil prices may already be turning.

Tensions continue to rise in the Middle East, with Iran briefly reopening the Strait of Hormuz before closing it again after around 20 hours. Tehran says the US is not respecting the terms of the agreement reached, casting further doubt on the fragile deal. Meanwhile, negotiations are still ongoing in Islamabad. FRANCE 24’s correspondent in Tehran, Reza Sayah, brings the latest developments.

Iran reimposed restrictions on crossing the strait on April 18. Read more at straitstimes.com. Read more at straitstimes.com.

The Strait of Hormuz remained effectively closed despite Iran's declaration Friday that it is open, maritime freight and oil analysts told CNBC.