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Oil and gas prices plunged early Friday after Iran said the Strait of Hormuz is now completely open to traffic. But Bloomberg's Mia Gindis says it may take some time for tanker traffic to bounce back. She reports on "Bloomberg Open Interest."

Iran announced that the Strait of Hormuz is now "completely open" for commercial traffic, a major step toward ending a war with the US and Israel that's sent energy prices surging. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Foreign Minister Abbas Araghchi said on X. Ships can move on the "coordinated route as already announced" by Iranian authorities. Bloomberg's Patrick Sykes joins to discuss.

The Trump administration is said to be considering a deal to unfreeze $20 billion in Iranian assets in exchange for Iran's uranium stockpiles, according to an Axios report. Tyler Kendall reports on Bloomberg Television.

Rep. French Hill, a Republican from Arkansas, discusses the upcoming confirmation process for Kevin Warsh, President Donald Trump's nominee for Federal Reserve Chair.

Rick Rieder, global fixed income CIO and head of the global allocation team at BlackRock, sees equities being driven by a combination of "amazing" technicals and "pretty powerful" earnings.

Gregory Allen, senior adviser at CSIS Wadhwani AI Center, examines the capabilities of Anthropic's Mythos model and how AI is being used by the US military to intensify strikes in the Iran war.

Nigeria is emerging as a beneficiary of the Iran war, with higher oil prices boosting export revenues. Speaking to Bloomberg's Jennifer Zabasajja, Citi Senior Africa Economist David Cowan said Africa has "got lucky" with elevated commodity prices and already-planted crops help cushion the continent from broader global disruptions.

Edward Yardeni, president at Yardeni Research, runs down the points of optimism he sees for equity investors and what's bringing back enthusiasm for the tech sector.

Traders are waiting for further details of a potential peace deal between Iran and the US ahead of the weekend at the end of a febrile week. Meanwhile there's little room for disappointment as companies start to feel the impact of the war.

Anna Edwards, Guy Johnson, Tom Mackenzie and Adam Linton break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."