Iran’s parliamentary speaker says strait could close again if US blockade continues, but Trump says it will remain in place until ‘transaction’ with Tehran is complete

Iran’s foreign minister has said that the strait of Hormuz is now fully open to commercial vessels, reinforcing hopes for an eventual end to the war in the Middle East and sending oil prices tumbling despite analysts’ warnings that there will be no immediate widespread resumption of passage through the vital waterway.

In a barrage of social media posts, Donald Trump claimed on Friday that Iran had agreed never to close the strategic waterway again, hailing “A GREAT AND BRILLIANT DAY FOR THE WORLD!”