Oil tumbles nearly 15% after Iran says Strait of Hormuz 'completely open'

Nikkei Asia | April 17, 2026, 12:57 p.m. | Original

NEW YORK -- Crude oil futures plunged Friday after Iranian Foreign Minister Abbas Araghchi announced that passage for all commercial vessels through the Strait of Hormuz is "completely open" following a ceasefire agreement between Israel and Iran-backed Hezbollah.

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