The Strait of Hormuz, a crucial maritime passage for global oil shipments, reopened for commercial vessels on Friday as part of a 10-day ceasefire between Israel and Lebanon. This development briefly lifted oil prices, with Brent crude dropping over 8% to approximately $90.93 a barrel. However, Iranian officials quickly tempered the optimism, warning that the strait could be shut again if the United States continues its naval blockade of Iranian ports. Iranian Foreign Minister Seyed Abbas Araghchi announced the reopening on X, stating that commercial passage was fully open for the duration of the ceasefire along a designated route. Iranian Parliamentary Speaker Mohammad Bagher Ghalibaf and Foreign Ministry spokesman Esmaeil Baqaei both emphasized that any continuation of the blockade would necessitate Iranian authorization for passage through the strait. The situation remains tense, with US President Donald Trump claiming a deal with Iran is close, while Iran firmly rejected any notion of handing over its enriched uranium stockpile. The backdrop of this reopening is the fragile ceasefire between Israel and Lebanon, which Iran insisted was a prerequisite for any broader agreement.