Abbas Araghchi, the foreign minister of Iran, announced on Friday that in line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire.

He further explained that the passage of vessels through the strait will be on the coordinated route as already announced by the Ports and Maritime Organisation of Iran.

Market reaction

This headline seems to be helping the risk mood improve. At the time of press, US stock index futures were up between 0.5% and 0.8%, while the US Dollar Index was down 0.37% at 97.80.

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