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Euronews
Euronews
Quirino Mealha

Oil prices drop over 10% after Iran declares the Strait of Hormuz 'completely open'

In a statement shared through X on Friday afternoon, the Minister for Foreign Affairs of Iran, Abbas Araghchi, announced that the Strait of Hormuz is "completely open" in line with the ceasefire in Lebanon.

Global equity and energy markets immediately reacted to the news.

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