Strait of Hormuz <b>Fully Open</b>, International Oil Prices Sharply Drop

BlockBeats News, April 17th, Iranian Foreign Minister Abbas Araqchi stated that the Strait of Hormuz has been "fully opened", triggering a rapid market expectation of oil supply recovery and causing a significant drop in international oil prices.

The market data shows that WTI crude oil plummeted over 9% to around $84 during the day, Brent crude oil fell below the $90 level, with a drop of over 8%, essentially erasing all gains for the week. European natural gas prices also fell simultaneously.

Trump later confirmed the related news in a tweet, stating that Iran is ready to resume full passage. The market was also boosted by the potential progress in the agreement—earlier reports indicated that the U.S. is considering unfreezing around $20 billion of Iranian assets in exchange for its nuclear-related concessions, and both sides may restart negotiations over the weekend.

During this round of conflict, the closure of the Strait of Hormuz once disrupted about 20% of global oil shipments, causing drastic oil price fluctuations. Analysts pointed out that the current market trading logic has shifted from "supply shock" to "repair expectation", and the drop in oil prices reflects a repricing of the situation easing.

However, uncertainties still exist. Factors such as the longer repair cycle of energy infrastructure and Iran's possible imposition of fees on passing vessels may disrupt oil prices. The industry is expected to gradually recover global energy supply even if the conflict ends.

Overall, the crude oil market is transitioning from extreme panic to phased stability, but geopolitical risks have not been completely eliminated.