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Iran reopened the straight of Hormuz to all commercial shipping traffic Friday,

signaling a major breakthrough in the conflict and sending

oil prices plummeting.

However, President Donald Trump said the U.S. naval blockade on Iran will remain in effect

until a permanent peace deal is reached.

Iran's foreign minister tweeted Friday, quote,

The passage for all commercial vessels through the Strait of Hormuz is declared

completely open for the remaining period of ceasefire, referring to the 10-day ceasefire between

Israel and Lebanon that took effect Thursday. The ceasefire ended Israel's continued attack on

Iran-backed Hezbollah militants in Lebanon that threatened to derail the

ceasefire between the U.S. and Iran.

Crude oil futures plunged about 10% in the wake of the announcement, falling below $82

a barrel in the U.S.

Trump celebrated the news in a truth social post Friday, calling the passage the Strait of Iran and thanking

...