AP NewsWatch

0:00Good morning, I'm Ed Donahue with an AP News Minute. Commerce Secretary Howard Lucknick says there was an immediate reaction when President Trump and Iran's foreign minister announced the Strait of Hormuz has reopened. So the price of oil dropped 10 percent this morning. Stocks are higher on Wall Street. British Prime Minister Kier Starmer is in Paris. We welcome the announcement that was made during our meeting, but we need to make sure that that is both lasting. The Strait's reopening is in line with the ceasefire in Lebanon and would remain open for the remaining period of that ceasefire. In a social media post, President Trump said the U.S. naval blockade on Iranian ships and ports will remain in full force until a deal is reached to end that war. It's unclear whether a lasting deal would be reached between the U.S. and Iran before that ceasefire ends next week.