00:00Iran says it's reopening the Strait of Hormuz, at least for now.
00:03The move comes during a 10-day ceasefire.
00:05About one-fifth of the world's oil and natural gas flows through that narrow stretch of water.
00:10With shipping set to resume, markets reacted fast.
00:13Oil prices dropped sharply, with Brent crude plunging more than 10% to around $89 a barrel.
00:19And stocks moved higher as fears of supply disruptions eased.
00:23The strait had been effectively shut following U.S. and Israeli strikes on Iran earlier this year.
00:28President Donald Trump welcomed the move, calling Hormuz, quote, open and ready for business.
00:33But he said a U.S. naval blockade targeting Iranian oil exports would remain until a broader deal is reached.
00:40The announcement also raises hopes for a wider ceasefire between Washington and Tehran, with talks set to expire next week.
00:47Trump says both sides are close to an agreement.
00:49Iran hasn't confirmed those claims.
00:51But the bigger question remains, can this temporary opening turn into lasting peace?
00:58So we begin toPaata.
