Iran Reopens Hormuz Strait, Trump Predicts Xi Meeting

Iran declared the Strait of Hormuz fully reopened to commercial vessels on Friday, though uncertainty persisted through Saturday over the practical terms of transit, with Tehran retaining control over passage conditions. Donald Trump claimed that Chinese President Xi Jinping expressed satisfaction with the reopening, and Trump predicted a historic meeting between the two leaders would follow. The Strait of Hormuz is the world's most critical oil chokepoint, through which roughly 20 percent of global petroleum flows daily, making any restriction an immediate pressure point on energy prices and tanker insurance rates. The gap between Iran's formal declaration and observable freedom of movement is the operative risk. Ships transiting under Iranian oversight rather than open-water conditions leaves commercial operators, energy traders, and insurers in a holding pattern until independent verification confirms unrestricted passage. Whether the Trump-Xi meeting materializes, and what it addresses beyond the strait, will determine whether this episode marks a durable geopolitical realignment or a temporary tactical signal.