Iran has firmly rejected claims that it is engaged in negotiations with the United States to reopen the Strait of Hormuz, stating that the waterway remains closed to international shipping.
Eszmai Baháji, an Iranian foreign ministry spokesperson, clarified that Tehran is currently in contact only with Oman, dismissing earlier reports of a potential breakthrough in US-Iran relations as unfounded.
The denial extinguishes short-term hopes for a de-escalation in the Middle East that had briefly buoyed market sentiment.
With the Strait of Hormuz still blocked, the risk premium on global energy flows remains elevated.
Brent crude prices are likely to stay supported by the persistent supply disruption, as traders continue to price in the logistical challenges of rerouting tanker traffic around the Cape of Good Hope.
This development marks a significant setback for diplomatic efforts to ease tensions in the region.