Trump Declares Iran Deal; Oil Prices Plunge 10%

Trump made these claims in social media posts and interviews, stating talks would proceed quickly and Iran would never close the waterway again. However, chief Iranian negotiator Mohammad Ghalibaf and Foreign Minister Abbas Araghchi dismissed Trump's statements as false "media warfare," asserting no new agreement exists and the Strait's limited opening is temporary, tied to a separate Israel-Lebanon ceasefire.

Maritime tracking organizations reported no immediate increase in traffic through the Strait, and experts like Brett Erickson of Obsidian Risk Advisors expressed skepticism about actual transit volume given Iranian authorization requirements. The U.S. naval blockade of Iranian ports continues, with 21 ships turned back by Centcom since Monday.

Trump also reauthorized a pause on Russian oil sanctions, which analysts say creates a windfall for the Kremlin, despite Treasury Secretary Scott Bessent's earlier statement against renewal. Trump rejected a 20-year moratorium on uranium enrichment, demanding "unlimited" cessation, and denied reports of releasing $20 billion in frozen Iranian funds.

European allies were caught off guard by Trump's announcements, highlighting disunity among Western powers.