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Iran has reversed course on reopening the critical Strait of Hormuz as the war against Iran entered its 49th day Saturday.
Here's the latest:
Iran closes Strait of Hormuz again
OMAN - APRIL 08: A view of the vessels heading towards the Strait of Hormuz following the two-week temporary ceasefire reached between the United States and Iran on the condition that the strait be reopened, seen in Oman on April 08, 2026. (Photo by …
8:15 a.m. ET: Iran fully reopened the Strait of Hormuz to commercial vessels Friday, but President Donald Trump said the American blockade on Iranian ships and ports "will remain in full force" until Tehran reaches a deal with the U.S., including on its nuclear program. Nearly 20% of the world's oil passed through the strait daily before the U.S. and Israel launched the war against Iran.
Iranian officials said the blockade was a violation of last week’s ceasefire agreement between Iran and the U.S.
The strait "will not remain open" if the blockade continues, Iran’s parliamentary speaker, Mohammad Bagher Qalibaf, posted on X early Saturday.
According to The Wall Street Journal, some 20 ships have turned around since Iran reclosed the strait, and at least two ships were fired at.
The backstory:
Trump imposed the blockade earlier this week after Iran restricted traffic through the strait due to fighting in Lebanon, which Iran claimed was a breach of the Pakistan-brokered ceasefire. Trump later suggested a second round of direct US-Iran talks could happen this weekend.
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Oil prices fell 9% and the Dow jumped as much as 1,100 points after Iran said the strait was open, meaning tankers can resume shipments from the Persian Gulf. U.S. stocks notched a third straight weekly gain on hopes of avoiding a worst-case economic scenario. Data firm Kpler said markets showed "cautious optimism" but warned it could take "months, not weeks" to return to normal.
Ceasefire holding in Lebanon, Israel
8:15 a.m. ET: A 10-day ceasefire in Israel and Lebanon began at midnight Friday and appears to be holding after more than a month of war between Israel and Hezbollah, though the Iran-backed Lebanese militant group is not a party to the deal.
Israeli Prime Minister Benjamin Netanyahu said Israel is "not finished yet" with Hezbollah. Hezbollah said its response will depend on how events unfold.
The fragile calm has prompted thousands of displaced Lebanese families to head home. The Israel-Hezbollah war has displaced over a million people in the tiny country. Nearly 2,300 people in Lebanon have been killed by Israeli air strikes.
The Source: This article includes information from The Associated Press and previous FOX Local reporting.