President Donald Trump declared that a diplomatic agreement with Iran has been signed, asserting that the Strait of Hormuz will be fully reopened by Friday.
Speaking alongside French President Emmanuel Macron, Trump framed the development as a definitive resolution to the shipping crisis that has kept energy and freight markets on edge for days.
The announcement immediately triggered a sharp repricing in global energy and shipping markets, though the move was tempered by skepticism from Tehran.
Iranian officials have publicly rejected the claim, stating that no such agreement was reached and that the United States is misrepresenting the status of the negotiations.
This contradiction leaves the actual opening of the chokepoint in limbo until Friday, creating a volatile window for traders.
The Strait of Hormuz remains a critical artery for global oil supplies, with a significant portion of seaborne crude passing through the narrow waterway.