Global oil prices dropped sharply on Friday after Iran signalled that the Strait of Hormuz would remain open to commercial shipping during a temporary

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

In Europe, stocks surged in response to the news, with major indexes in France and Germany rising more than 2%. However, Asian markets, which closed before the announcement, ended the day lower.

Iran’s foreign minister declared the waterway fully open to shipping on April 17. Read more at straitstimes.com. Read more at straitstimes.com.

NEW YORK/LONDON, April 17 : Wall Street indexes touched fresh record highs and oil prices cratered on Friday after Iran said that the Strait of Hormuz was open for passage during a ceasefire in Lebanon and U.S. President Donald Trump said he expected to reach a deal to end the war soon. Iranian Foreign Minist

Iran’s move to fully reopen the Strait of Hormuz while Donald Trump keeps Iran’s ships under blockade has left oil and Bitcoin trading the ceasefire headline

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.

The Strait of Hormuz has remained almost completely closed as the U.S. and Iran have disputed the terms of their ceasefire agreement.

The U.S. blockade in the Strait of Hormuz risks deepening the energy shock, but markets are shrugging it off amid optimism for a deal.