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Trump said the temporary ceasefire is "subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz."
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Oil prices were volatile Thursday as the U.S.-Iran ceasefire agreement remained fragile.
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Sultan Ahmed Al Jaber demanded a full reopening of the strait, warning that the oil supply disruption will increase if Iran maintains control of the passage.
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The price of oil rebounded Thursday as doubts grew about state of the Iran ceasefire announced just two days earlier by President Donald Trump.
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Crude prices have reversed from sharp falls on Wednesday when plans to pause the war first emerged.
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