Iran’s Strait of Hormuz Reclosed Hours After Trump’s Assurance
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The Strait of Hormuz, a vital passage for global oil transport, was closed by Iran’s military on April 18, 2026, challenging recent assertions made by President Donald Trump regarding its openness. Just a day prior, Trump had confidently stated that the strait was secure and would “never” be closed again.
On April 17, foreign minister Abbas Araghchi had announced during a truce related to conflicts in Lebanon that the strait was entirely accessible to commercial vessels. This announcement was welcomed by Trump, who praised the development on social media, declaring it a significant step towards stability.
However, in less than 24 hours, reports from various Iranian state media outlets confirmed a reversal of this policy, stating that military control over the waterway had been reinstated. According to these updates, all ships now need Iranian permission to navigate through, leading to immediate reports of vessels being redirected.
Criticizing Trump’s claims, Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that the president had made seven inaccuracies in a brief period. Deputy Foreign Minister Saeed Khatibzadeh supported this view, asserting that the realities on the ground contradicted Trump’s statements.
The Iranian government attributed this closure to ongoing U.S. naval blockades of Iranian ports, emphasizing that no agreement was ever made for the strait to remain permanently open. Instead, they described Trump’s narrative as misleading.
In the wake of these developments, the oil market experienced volatility. Following the initial announcement of the strait’s reopening, Brent crude prices fell by about 9%, settling near $92 per barrel, while West Texas Intermediate (WTI) prices also saw a decline. Yet, on April 18, as news of the strait’s reclosure spread, Brent futures began to recover, climbing back toward $94-$96 per barrel, driven by renewed concerns over supply.
Bitcoin also mirrored this market uncertainty. It had surged above $78,000 on April 17 but retreated to the $75,800-$77,100 range on April 18 as fears of an ongoing geopolitical crisis weighed on investor sentiment. This fluctuation indicates a potential risk of a market correction if tensions escalate further.
The situation illustrates a stark divergence in narratives between the U.S. and Iran, with both sides taking strong public stances that suggest a challenging road ahead for diplomatic resolution. As the Strait of Hormuz remains pivotal for the flow of energy resources globally, its status continues to be of utmost importance, highlighting the fragile nature of peace in the region.
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