Trump has declared the Strait of Hormuz open and safe under a pending U.S.-Iran agreement, but shippers say they need proof that vessels can transit without danger. Ship-tracking data shows only limited movement as concerns persist over security, mines and possible fees.
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U.S. officials say Washington and Tehran have digitally signed a memorandum to extend a ceasefire, reopen the Strait of Hormuz and begin nuclear negotiations. The deal’s effect on Lebanon remains uncertain as Israel says it is not bound by the agreement.
President Trump pauses Project Freedom, a U.S. mission to escort ships through the Strait of Hormuz, amid escalating clashes with Iran and ongoing peace talks. Despite recent attacks and counterattacks, officials say the ceasefire remains intact as diplomatic efforts continue.
Oil prices fell sharply after Iran declared the Strait of Hormuz open amid a Middle East ceasefire, easing fears of supply disruptions. The announcement boosted global stock markets and lowered U.S. gasoline prices, though uncertainties remain about shipping security and ongoing U.S.-Iran tensions.