Strait of Hormuz is Fully Open,Brent crude price down below $90 a barrel.

17 Apr Strait of Hormuz is Fully Open,Brent crude price down below $90 a barrel.

(Oilandgaspress) A senior Iranian official reportedly told Reuters that transit through the strait of Hormuz will be through ‘designated safe lanes’ which Iran deems safe for maritime navigation.Stocks have opened higher in New York, with the Dow Jones industrial average jumping by 578 points, or 1.2%, to 49,157 points.

The broader S&P 500 index is up 0.7%

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran,” Iran’s Foreign Minister Abbas Araghchi  wrote on X.