Overview
Iranian sources quoted by the Fars news agency confirmed on 2 August 2026 that Tehran has not reached any agreement to reopen the Strait of Hormuz and that its policy on the strategic maritime corridor remains unchanged.
Statements from Iran
Foreign Minister Abbas Araqchi conveyed to officials from Turkey, Pakistan and Saudi Arabia that any new U.S. attacks would meet a decisive Iranian response. Nournews, linked to Iran’s top security body, warned that strikes on Iranian energy infrastructure could trigger retaliatory attacks on oil fields in Saudi Arabia and the United Arab Emirates and on gas facilities in Qatar and Israel.
U.S. President Donald Trump's Announcement
On Saturday evening, President Donald Trump posted on Truth Social that he had cancelled a planned U.S. attack on Iran after Tehran and other Middle Eastern states asked Washington to hold off. He said the cancellation was subject to a rapid deal that would include the immediate and complete reopening of the Strait of Hormuz and an end to what he described as Iran’s nuclear threat. Trump added that Israel had joined the commitment but that U.S. forces remained “locked and loaded” should negotiations fail. Earlier reports had suggested Trump ordered fresh strikes that could begin the following weekend, with U.S. officials considering Iranian refineries and power plants as potential targets.
Regional Reactions
Kuwait reported that its air‑defence systems shot down Iranian drones aimed at vital facilities; falling debris caused property damage but no casualties. The Iranian denial and the broader diplomatic exchanges underscore heightened regional tension.
Oil Market Impact
The uncertainty surrounding the Hormuz negotiations kept oil markets volatile. Brent crude futures rose 24 % in July, reflecting disruptions that began after U.S. and Israeli strikes on Iran on 28 February. Most commercial shipping has continued to avoid the Strait of Hormuz, a key conduit for global oil and liquefied natural gas exports.
Maritime Incidents
Two incidents were reported off Oman on Saturday. One tanker suffered engine‑room damage after being hit by an unidentified projectile, and another vessel reported a nearby explosion.
Outlook
Iran’s rejection of reports on a deal leaves the future status of the Strait of Hormuz unresolved, maintaining geopolitical and market uncertainty.