Iran resumes control of the Strait of Hormuz one day after protesting U.S. blockade

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[The Financial News] Iran announced on the 18th that it would resume control of the Strait of Hormuz in protest against the U.S. naval blockade. As the U.S. blockade of Iranian waters continued, Tehran reversed course just one day after declaring that ship traffic would resume.
According to Al Jazeera on the same day, local time, the Islamic Revolutionary Guard Corps (IRGC) said the control of the Strait of Hormuz had "returned to its previous state." Khatam al-Anbiya Central Headquarters also said, "The situation in the Strait of Hormuz will remain strictly controlled and unchanged until the U.S. lifts restrictions on the full freedom of navigation for Iranian vessels."
Iranian authorities had announced the previous day that commercial vessels would be allowed to pass through the Strait of Hormuz again, following a ceasefire between the U.S. and Lebanon. However, U.S. President Donald John Trump said, "The U.S. Navy will maintain the naval blockade on Iran until the deal with Iran is 100% complete."
With Iran blocking the Strait of Hormuz again, concerns have emerged that global energy markets, including oil prices, could become unstable once more.
AP said that oil prices had been falling on hopes of progress in ceasefire talks between the U.S. and Iran, but if control of the strait is tightened again, supply could shrink and upward pressure on prices could return.
Meanwhile, the second ceasefire talks between the U.S. and Iran are likely to be held in Islamabad, Pakistan, on the 20th.
President Trump told reporters that "the negotiations are still ongoing" and that they would "continue through the weekend (18th to 19th)."
gaa1003@fnnews.com Ahn Ga-eul Reporter