Iran Denies Trump's Claim of Strait of Hormuz Reopening Deal

Tehran is pushing back hard on Washington. Iran on Sunday denied that it had reached any agreement to reopen the Strait of Hormuz, directly contradicting U.S. President Donald Trump hours after he canceled a planned strike and announced that the outlines of a deal had been reached.

What Trump said

Trump announced early Sunday that he had called off a planned American attack after Iran and several other Middle Eastern countries asked Washington to refrain from striking and said that the basic parameters of a possible agreement had been set.

In a post on Truth Social, Trump asserted that participating entities had settled on the parameters of a potential framework, which he stated provided for the immediate, complete, and total reopening of the Strait of Hormuz, alongside the termination of Iran's nuclear threat. Trump also said Israel had agreed to refrain from acting, writing that the country of Israel joins him in this commitment.

Iran's response

“There is no agreement on reopening the Strait of Hormuz,” Iran's regime-linked Fars news agency reported, adding that as long as the United States continues its hostile actions, the strait will remain closed, and a senior Iranian military source told the agency that ships would be permitted to pass only through a designated route and with authorization from the Islamic Revolutionary Guard Corps Navy.

A report in Israeli media claiming that Tehran's Foreign Minister Abbas Araghchi had agreed to a US-Qatari deal dividing control of the strait between Iran and Oman is false, according to Fars, which also quoted an Iranian military source insisting that the vital waterway remains closed to any ship that does not coordinate with Iran's Revolutionary Guards.

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The Oman track

“We are not currently negotiating with the United States. Our negotiations are with Oman to secure passage through the Strait of Hormuz,” Iranian Foreign Ministry spokesman Esmaeil Baqaei said during a weekly press briefing.

Baqaei added that talks between Iran and Oman were close to reaching an understanding on a shipping route acceptable to both sides, one that is neither the northern route nor the southern route, but respects the sovereign rights of both sides. He stressed that any such deal would not amount to reopening the strait.

Why traders should care

Roughly a fifth of global oil flows through Hormuz. A confirmed reopening would pressure crude lower and ease tanker rates. A prolonged closure or misfire on diplomacy does the opposite, and keeps a war-premium bid in energy and defense.

Iran added that every US threat is treated as real, with Iran not backing down and instead using Trump's ceasefire period to raise combat readiness and strengthen deterrence. That is not the language of a settled deal.

Options market and stocks to watch

Watch for elevated volatility in energy and defense names tied to the Gulf standoff:

• USO: watch for a crude proxy reaction if the strait status swings either way.
• XOM: watch for follow-through on any Gulf supply headline.
• CVX: watch for correlation to Brent as Hormuz risk is repriced.
• LMT: watch for defense flow if Iran military-readiness rhetoric escalates.
• RTX: watch alongside other primes on any Middle East escalation.

Track more on the news feed as the situation develops.

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