Iran's foreign minister announced Friday that the Strait of Hormuz is now open to commercial shipping during the Israel-Lebanon ceasefire, but vessels must use Iranian-coordinated routes and cannot be linked to hostile nations. Trump welcomed the move but said the U.S. naval blockade remains in place until a permanent deal is reached, and oil prices fell more than 10% on the news as global markets responded to the potential reopening of a critical shipping lane. The article notes this follows weeks of the strait being nearly closed since the U.S.-Iran war began in late February, triggering historic oil disruptions that sent prices above $150 per barrel earlier this year. Negotiations between Vance and Iranian parliamentary speaker Ghalibaf have so far failed to produce a permanent ceasefire, though both sides say talks could resume this weekend in Pakistan.