Iran has firmly rejected President Donald Trump's assertion that the country would sign a deal with the United States on Sunday, leaving the Strait of Hormuz closed and shipping routes exposed.
The denial comes after Trump posted on Truth Social that an agreement would include the immediate opening of the chokepoint to all vessels.
The rejection underscores the fragility of diplomatic efforts to de-escalate tensions in the Persian Gulf.
With no agreement in place, the risk of disruption to global oil flows remains high, keeping pressure on energy markets and freight rates.
Investors are left navigating a landscape where geopolitical risk continues to dictate rather than fundamental supply and demand.
This development follows a pattern of conflicting signals from both sides, with Tehran previously indicating it was preparing a proposal aimed at satisfying U.S. demands.