President Trump and Iranian officials have said the Strait of Hormuz is open to all commercial vessels, although shipping firms say they're remaining cautious. Iran's foreign minister, Abbas Araghchi, said the vital waterway would be navigable while the Lebanon ceasefire was in place, warning ships to use designated safe lanes. But Tehran warned it may retract this if Mr Trump continued with his threat to maintain a US blockade on Iranian ports until a comprehensive peace deal is reached. The price of oil has dropped on the announcement.

Also in the programme: finance chiefs warn that a new AI tool could jeopardise global banking; and Japan creates a new word for days over 40 degrees celsius.

(Photo: A drone view shows the Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arriving in Iraq’s territorial waters off Basra, Iraq, April 17, 2026. Credit: REUTERS/Mohammed Aty)