(Il Sole 24 Ore Radiocor) - Milano, 17 apr - US shares were trading higher and oil prices slumped after Iran declared the Strait of Hormuz 'completely open' following a 10-day ceasefire between Israel and Lebanon.

"In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Iranian foreign minister Seyed Abbas Araghchi posted on X.

The declaration sent oil prices tumbling, with Brent down 10% at just over 89 dollars per barrel.

US president Donald Trump however said that the US naval blockade would remain place for the time being.

Earlier Trump said 'the war in Iran is going along swimmingly,' adding 'it should be ending pretty soon.' He said Tehran had agreed to hand over the enriched uranium buried under three of its nuclear sites, one of Washington's key demands for any deal.

A second round of talks between US and Iranian officials could take place 'probably, maybe, next weekend,' Trump added.

At 1722 GMT, the Dow Jones was up 1,064.31 points, or 2.19%; at 49,643.03 points.

The S&P 500 was 95.36 points, or 1.35%, higher at 7,136.64 points.

The Nasdaq was gaining 333.64 points, or 1.38%, at 24,436.35.

points.

(RADIOCOR) 17-04-26 19:41:33 (0686) 5 NNNN