Donald Trump said late Saturday that a deal was underway to reopen the Strait of Hormuz and de-escalate military tensions in the region. He revealed that planned U.S. strikes had been called off following what he described as a framework involving Iran and neighboring countries. The agreement purportedly aimed at an immediate and total reopening of the strategic waterway along with ending Iran’s nuclear threat.
Trump emphasized that the United States was prepared for a military response "not seen since World War II" but agreed to hold back in order to let negotiations proceed. He also noted Israeli backing for the pause and urged swift action to finalize the deal.
Hours later, Iran contradicted this portrayal emphatically. The Islamic Revolutionary Guard Corps-linked Fars News Agency denied any pact existed, stating the Hormuz Strait remains closed to vessels lacking coordination with Iranian forces. Iranian officials rejected claims that their foreign minister had accepted new shipping routes proposed by the U.S., labeling such reports inaccurate. Tehran maintains no request for a truce was made and keeps forces on high alert.
The Strait of Hormuz remains a vital passage for global oil flow, meaning ongoing uncertainty directly impacts markets worldwide. Oil prices stayed volatile as the IRGC’s restrictions kept traders cautious. Bitcoin prices held firm between $62,500 and $63,100 while investors awaited clearer signs on the waterway’s status and forthcoming U.S. decisions.
