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Oil drops 9% after Iran says Strait of Hormuz is ‘completely open’ during ceasefire

Posted on April 17, 2026
By CNN
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1 min read

Oil drops 9% after Iran says Strait of Hormuz is ‘completely open’ during ceasefire

Oil prices dropped sharply after the Iranian foreign minister said the Strait of Hormuz will be “completely open” for commercial transit during the remainder of the ceasefire.