President Trump and Iran's foreign minister declared the Strait of Hormuz reopened to commercial shipping, sending oil prices lower and boosting US stocks to record highs. The critical waterway, through which 20% of global oil shipments pass, saw both sides express optimism about peace negotiations despite maintaining some restrictions on Iranian vessels.

Trump predicted an Iran deal would come "very near future," claiming Iran had "agreed to everything" including nuclear material transfers, which Tehran denied. Iranian officials confirmed both sides are finalizing a memo allowing 60 days for continued negotiations, suggesting diplomatic progress despite remaining tensions.

The reopened strait signals potential easing of Middle East tensions that have disrupted global energy markets, though the partial blockade complicates the full restoration of normal commercial flows. Market participants will watch whether this development leads to a comprehensive nuclear agreement that could reshape regional energy dynamics.