Investing.com -- U.S. energy stocks fell on Friday after Iran announced that the Strait of Hormuz is now ‘completely open’ for commercial ships, prompting oil prices to tumble.

Shares of Chevron fell nearly 4.5%, Exxon fell 5%, Occidental Petroleum fell 6%, and Valero Energy fell nearly 7%.

Brent dropped below $90 a barrel after a social media post attributed to Iran’s foreign minister said the passage for commercial vessels through Hormuz was open.

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire,” Foreign Minister Seyed Abbas Araghchi said in a social media post. However, vessels must transit through a “coordinated route” announced by Iran’s maritime authorities, Araghchi said.

U.S. energy stocks have enjoyed a bull run since the Iran war broke out, as the blockade of the Strait of Hormuz sent oil prices higher and the lack of crude oil and other energy fuels drove demand higher.

Trump agreed to a two-week ceasefire on April 7 in exchange for Iran completely opening the Strait. But Iran’s parliamentary speaker Mohammad Bagher Ghalibaf accused the U.S. of violating the agreement by allowing Israel to continue its campaign in Lebanon.

The strait has remained almost completely closed during the U.S.-Iran ceasefire as the two countries disputed the terms of the agreement. Just a few commercial vessels are transiting the waterway daily.