The Strait of Hormuz, a vital waterway, has reopened following a period of uncertainty between Iran and the US, causing oil prices to spike. Iran's Foreign Minister Abbas Araghchi and US President Donald Trump have stated that the Strait is now open to commercial vessels. However, they also stated that a US naval blockade on Iranian ports will remain in full force. France and the UK hosted a meeting in Paris involving about 40 countries to restore freedom of navigation in the Strait after the US-Israeli war on Iran stops. The closure of the strait has led to a global surge in fuel prices. UK Prime Minister Keir Starmer welcomed the reopening, but called for it to be more lasting and a workable proposal.