Live updates: Iran declares Strait of Hormuz 'completely open'; Trump says U.S. blockade 'will remain in full force' until peace deal

The price of oil plunged sharply and U.S. stock indexes opened at new all-time highs after the Iranian foreign minister said that the Strait of Hormuz was open for commercial vessels. U.S. crude oil plunged 10% to nearly $85 per barrel, while international Brent crude also slid more than 8% to around $90 per barrel. Heating oil futures, which are a proxy for jet fuel, plummeted 13%. Wholesale RBOB gas futures also fell 7%. At the opening bell, the S&P 500 rose 0.6% and the Nasdaq Composite jumped 1%. Both set new all-time highs in early trading as a result....