Iran said Friday that the Strait of Hormuz would remain fully open to commercial shipping for the rest of a ceasefire period, while a separate ceasefire between Lebanon and Israel took effect overnight.

Iranian Foreign Minister Seyed Abbas Araghchi said on X that passage for all commercial vessels through the strategic waterway was “completely open” for the remaining period of the ceasefire.

He said vessels should use the coordinated route previously announced by Iran’s Ports and Maritime Organization.

U.S. President Donald Trump welcomed the announcement.

“THANK YOU!” Trump wrote on Truth Social, saying Iran had announced the narrow waterway was “FULLY OPEN AND READY FOR FULL PASSAGE.”

He also said a U.S. naval blockade of Iranian ports would remain in place until a peace deal with Tehran is completed.

“The naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete,” Trump said on Truth Social, adding that “this process should go very quickly.”

Oil prices fall after Iran statement

Oil prices dropped sharply after the Iranian announcement.

International benchmark Brent crude fell 10% to $89.11 a barrel after earlier declining 5% on hopes tied to a U.S.-Iran peace deal.

U.S. benchmark West Texas Intermediate fell 11% to $84.11 a barrel.

The Strait of Hormuz, between Iran and Oman, is one of the world’s most important maritime chokepoints for oil shipments.

Lebanon-Israel ceasefire

Earlier Friday, Hezbollah said it was keeping its “finger on the trigger” in case Israel violated a ceasefire that began at midnight local time between Lebanon and Israel.

In a statement, the Lebanese group said it had carried out 2,184 military operations against Israel and Israeli troops inside Lebanon during the conflict.

It said its fighters would remain alert because of what it called Israeli “treachery.”

The Lebanese army warned residents not to return immediately to southern areas, citing what it described as several Israeli violations.

Despite the warning, vehicles carrying returning residents were seen traveling south on Lebanon’s coastal highway before dawn.

Some crossed damaged infrastructure, including a bridge hit during the war.

Displaced resident Alaa Damash said people had been advised to wait before returning, but attachment to their homes and land pushed many to go back despite fears of renewed fire.

Gunfire was heard overnight in Beirut’s southern suburbs, where Hezbollah holds strong influence, as the ceasefire came into effect. The cause could not be independently confirmed.

Traffic stretched for kilometers near the only bridge linking the coastal area south of Lebanon’s Litani River with the rest of the country, AFP journalists reported.

Diplomacy and conditions

Israel’s military said as the truce began that it had struck more than 380 Hezbollah targets in southern Lebanon and remained on high alert to resume attacks if needed.

Trump said he had spoken with Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun before the truce.

He said both leaders agreed to the ceasefire to achieve peace between their countries.

Trump later said he expected Netanyahu and Aoun to visit the White House within four or five days.

Netanyahu said the ceasefire could create an opportunity for a historic peace agreement with Lebanon, but said Hezbollah’s disarmament remained a condition.

Trump said Hezbollah was included in the ceasefire.

According to the U.S. State Department, the truce committed Lebanon itself to dismantle the group.

Lebanese Prime Minister Nawaf Salam welcomed the ceasefire, calling it a key Lebanese demand since the start of the war.

An official source told AFP that Lebanon’s president had rejected Trump’s request for a direct call with Netanyahu.

Lebanon’s health ministry said at least seven people were killed and more than 30 wounded in an Israeli strike on Ghazieh on Thursday. An Israeli hospital spokesman said three people were also injured Thursday.