The blockage to energy supplies through the Persian Gulf appears to have ended. If it holds, it takes a massive weight off the world economy. Why it matters: The possibility of a prolonged disruption to the supply of crude oil, liquefied natural gas, fertilizer and other commodities looks to be off the table. The Trump administration's strategic move from last weekend — matching Iran's strait blockade for ships that don't pay a toll with a U.S. blockade — seems to have worked, at least for now. The global economy's outlook for the remainder of this year heavily depends on the outlook for energy supplies through the strait. Driving the news: Iran's foreign minister said that in light of a ceasefire between Israel and Lebanon, "the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire." President Trump said on Truth Social that Israel is "PROHIBITED " from further bombing of Lebanon. He said that the U.S.…