Stocks rally and oil falls as Iran declares Strait of Hormuz open during Israel-Lebanon ceasefire

• Iran's foreign minister declared the Strait of Hormuz 'completely open' for commercial vessels during the ceasefire, but specified a 'coordinated route,' suggesting limited access.
• President Trump (in 2026, likely a typo for 2024) stated the naval blockade on Iran would remain until transactions are 100% complete, implying Iranian oil will not reach the market.
• WTI Crude and ICE Brent Crude are both down over 11%, falling below $90, while gasoline and diesel futures are also significantly lower.
• Shipping companies like Maersk have not changed their approach and are not currently transiting the Strait, indicating continued caution.
• Even if flows resume, it will take time for tankers to return and refineries to restart, and other global choke points may see increased risk premiums.

Oil prices are falling significantly (over 11%) as Iran declares the Strait of Hormuz open during an Israel-Lebanon ceasefire. However, the actual resumption of oil flows and the lifting of a naval blockade on Iranian oil remain uncertain, leading to a complex market outlook despite initial optimism.