Oil prices fell after Iran said it was reopening the Strait of Hormuz, with an analyst saying markets were no longer pricing in the “worst-case” scenario.

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

April 17 (UPI) -- Iranian Foreign Minister Seyed Abbas Araghchi says the Strait of Hormuz is open Friday following a cease-fire in Lebanon, while oil prices decline.

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

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

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

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.