Brent crude sinks 10% after Iran says the key waterway is completely open for commercial ships for the rest of the ceasefire.
The IMO's secretary general Arsenio Dominguez said on social media: "We are currently verifying the recent announcement related to the reopening of the Strait of Hormuz, in terms of its compliance with freedom of navigation for all merchant vessels and secure passage using the IMO established traffic separation scheme."
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