Oil drops 11%, Dow soars 900 points after Iran says Strait of Hormuz is ‘completely open’ during ceasefire

Oil prices plunged 11% as geopolitical tensions eased following Iran's confirmation that the Strait of Hormuz is fully open, removing immediate supply disruption risks amid a fragile ceasefire. The sharp decline in crude reflects a repricing of war risk and a reversal of earlier premium-loaded positions in energy markets. With the critical chokepoint operational, shipping and global supply chain fears receded, boosting risk appetite and contributing to the Dow Jones soaring 900 points, particularly lifting energy-sensitive and cyclical sectors. Markets most exposed include Brent and WTI futures, Middle East-focused equities, and shipping rates, all of which had priced in potential closure threats. Traders will now monitor upcoming EIA inventory data and any further developments in Iran-West diplomatic talks for signs of lasting de-escalation.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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