Yesterday, Iran opened one of the most important waterways on the planet. Today? They shut it back down. And they're blaming Donald Trump.
Twenty percent of the world's oil passes through one narrow stripof water. The Strait of Hormuz. And right now — it's closed. Again. Here's exactly what happened in the last 24 hours.
On Friday, April 17th, Iran made a move that surprised markets and governments worldwide. Foreign Minister Abbas Araghchi announced that the Strait of Hormuz — which Iran had been restricting — would be fully reopened to commercial vessels and oil tankers. Tehran called it a good-faith gesture. A confidence-building step tied to the ongoing ceasefire connected to the Israel-Lebanon conflict.
Oil prices dropped. Shipping companies exhaled. Markets responded positively. And then — Trump posted. He called it a great development. The strait was, in his words, "fully open and ready for business and full passage." Everyone thought a corner had been turned.
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