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Hello and welcome to News Hour, live from the BBC World Service in London.

I'm Rebecca Kesbby.

Coming up later on the programme today,

Koka Shobi, that's a new Japanese word,

for days when the temperature rises above 40 degrees Celsius, but does anyone actually want to use it? No one actually wants to see that

word coming up in news or newspaper because it indicates it is unbearably hot.

More on that to come. But first, it is rare that we're able to start the program with

positive news, but today there does seem to be some. Although as we get into the details,

no doubt we will encounter caveats and caution. But the top line is the Iranian foreign minister

Abbas Arachchi says that Iran is reopening the Strait of Hormuz to all commercial shipping

while the ceasefire in Lebanon remains in place. Taking to social media shortly after that

announcement, US President Donald Trump welcomed the news, writing in all caps, thank you.

The markets responded immediately. European stock markets closed with solid gains, mostly

over 2%, and oil prices dropped dramatically by about 10% to under $90 a barrel.

It's still not clear, though, how the reopening would work, whether it would be only specific lanes, and at the same time, the US has said it's still maintaining its own blockade on Iranian ports. So what does all that mean? Here's our security correspondent, Frank Gardner.

Absolutely nothing has changed from yesterday. The straight of

Formuz is no more open right now than it was 24 hours ago. This is entirely performative.

It has fooled some people, but it's not fooling the shipping industry one bit. The practicalities

of this is that Iran is saying, yeah, the Strait of Form moves is open.

If you follow our rules, and those rules are, you've got to, instead of following the

well-establish what's called the TSS, the traffic separation scheme, which has been in happy

...