Trump Announces Hormuz Deal; Iran Denies Agreement

President Trump wrote Saturday that he had halted planned U.S. strikes after what he described as the “perimeters of a deal” to reopen the Strait of Hormuz. Iranian officials rejected the claim and asserted Islamic Revolutionary Guard Corps restrictions on shipping remain in effect.

In a social media post, Trump said the framework would include an “Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT” and measures to end Iran’s nuclear threat. He wrote the United States was “locked and loaded and ready to go against the Islamic Republic of Iran” and added he agreed to suspend planned strikes to allow negotiations to continue. He also wrote that Israel supported the decision and urged parties to “get it DONE.”

IRGC-affiliated outlets called reports of an agreement false and denied that Iran’s deputy foreign minister had accepted a U.S.-backed proposal for new shipping routes. Iranian sources reported that forces remain on high alert and that the waterway continues to be closed to vessels that do not coordinate with Iranian authorities.

U.S. officials and diplomats have not published a detailed, publicly available text of any framework. Diplomats plan to continue talks while both sides have yet to acknowledge the same arrangements publicly.

The Strait of Hormuz links the Persian Gulf to international shipping lanes and carries a large share of global oil and liquefied natural gas exports. Shipping through the narrow channel has slowed this year amid military activity, higher insurance costs and security concerns.

Markets reacted to the competing statements. On Sunday, Brent crude futures were near $87.93 per barrel and West Texas Intermediate around $84.67. Equity futures rose when hopes for a diplomatic resolution improved, while investors bought gold during periods of escalation. Shipping companies and insurers continued to price elevated risk while access to the strait remained uncertain.

Bitcoin traded roughly between $62,500 and $63,150 per coin, about 2.5% lower since July 26. Crypto sentiment had been fragile after a recent Coldcard exploit, ETF outflows and debate over two planned protocol forks.

Officials say a verified reopening would require consistent commercial tanker transit and public acknowledgment of the same framework by both Washington and Tehran. Until those conditions are met, governments, markets and shipping firms are monitoring developments closely.