Iran's foreign minister said ​on Friday that ‌passage for all commercial vessels through ​the Strait ​of Hormuz is declared ⁠completely open ​for the remaining period ​of ceasefire, in line with the ceasefire ​in Lebanon.

With a ceasefire set to expire soon, no extension deal is in place as military pressure builds in the Strait of Hormuz and new negotiations continue.

Oil prices are falling as traders show optimism that Iran’s latest statement on the Strait of Hormuz may signal an easing of tensions. “In line with the ceasefire in Lebanon, the passage for all comme

Follow live coverage from NBC News of Iran reopening the Strait of Hormuz, oil prices and stocks, Trump peace talks and the Israel-Lebanon ceasefire.

Iran says in light of the Israel-Lebanon ceasefire, "passage for all commercial vessels through Strait of Hormuz is declared completely open."

Meanwhile, the US president says Iran has agreed to turn over its enriched uranium, but Tehran has not commented on the claim.

Iran reopened the Strait of Hormuz to all commercial shipping traffic Friday, citing Thursday’s ceasefire with Israel in Lebanon, signaling a major breakthrough in the conflict.

Iran's grip on the Strait of Hormuz continues to be a pivotal setback in the Middle East conflict. CBS News contributor H.R. McMaster breaks down the latest from the Pentagon's briefing on the matter.