Iran's Fars news agency reported that no agreement has been reached to reopen the Strait of Hormuz and that Iran's policy on the corridor remains unchanged. An Iranian military source added that the Strait will stay closed as long as the United States continues hostile actions.
U.S. Position
President Donald Trump announced on Saturday evening that he had cancelled a planned U.S. attack on Iran after Tehran and other Middle Eastern countries asked Washington to hold off, citing an agreement on the framework of a potential deal. In a Truth Social post, Trump said the proposed agreement would provide for the immediate and complete reopening of the Strait and an end to what he described as Iran’s nuclear threat, and that he agreed to cancel the attack “subject to being able to rapidly make a DEAL.” He also stated that Israel had joined the commitment but warned that U.S. forces remained “locked and loaded” should negotiations fail.
Iran’s acting Defence Minister Majid Ebn‑e‑Reza described Trump’s announcement as “psychological operations and a war of calculations” and said Iran would “neither be taken by surprise nor be passive.” Foreign Minister Abbas Araqchi warned that any new U.S. attacks would receive a decisive response during calls with officials from Turkey, Pakistan and Saudi Arabia.
Regional Military Activity
Nournews reported that attacks on Iranian energy facilities could trigger retaliatory strikes on oil fields in Saudi Arabia and the United Arab Emirates and on gas facilities in Qatar and Israel.
Kuwait’s air defence forces said they destroyed Iranian drones targeting vital facilities; falling debris caused property damage but no casualties.
Two maritime incidents were reported off Oman on Saturday: a tanker suffered engine‑room damage after being hit by an unidentified projectile, and another vessel reported a nearby explosion.
Market Impact
Brent crude futures rose 24 % in July 2026 as the war, which began with U.S. and Israeli strikes on Iran on 28 February 2026, disrupted oil supplies.
Most commercial shipping has avoided the Strait of Hormuz, a key route for global oil and liquefied natural gas exports, adding to market sensitivity.
Outlook
Iran’s denial of any deal leaves the future status of the Strait of Hormuz uncertain, maintaining heightened geopolitical risk for global energy markets.
