US, Iran divided over Hormuz; Washington rejects Tehran report

• US, Iran remain split on peace deal terms
• White House denies reported draft agreement
• Hormuz access, Iran’s nuclear program remain key disputes
• Trump says deal must be “perfect” or US will act
• Oil prices swing after conflicting reports

US President Donald Trump announced on Wednesday that the United States and Iran have yet to resolve deep divisions in ongoing peace talks.

The statement came shortly after Washington aggressively dismissed an Iranian state television report alleging that a framework agreement had been established to restore shipping through the blockaded Strait of Hormuz.

Speaking during a cabinet meeting at the White House, Trump noted that while Tehran remains eager to conclude the war as the current terms on the table fail to satisfy American demands.

"Iran is very much intent, they want very much to make a deal. So far they haven't gotten there ... We're not satisfied with it, but we will be. Either that or we'll have to just finish the job." Trump stated.

He later insisted that any final resolution "has got to be perfect," asserting that the Strait of Hormuz must be opened immediately upon signing and that no single nation would be permitted sole control over the waterway.

Dueling narratives about leaked draft

The diplomatic friction peaked after Iranian state television reported it had obtained an unofficial draft of a memorandum of understanding.

According to the Iranian report, the framework outlined a plan to restore shipping within a month, lift the US naval blockade on Iranian vessels, and withdraw American forces from Iran's immediate vicinity.

The broadcast noted that the presence of US troops in the broader region required further discussion, but it made no mention of Iran's nuclear program.

The White House swiftly issued a social media statement branding the Tehran broadcast a "complete fabrication." While Tehran's government did not officially comment on the denial, the public positions of both nations remain starkly at odds.

US Secretary of State Marco Rubio echoed the President's cautious tone during the cabinet meeting, noting that while there has been "some progress and some interest," the coming hours and days would determine if a breakthrough is possible.

Rubio firmly reiterated a core US red line, stating, "The bottom line is Iran's never going to have a nuclear weapon."

Hormuz battle

The management and reopening of the Strait of Hormuz remain the primary operational sticking points in the negotiations.

Prior to the outbreak of the conflict, the strategic chokepoint carried a fifth of the world's oil and liquefied natural gas (LNG).

Under international law, foreign vessels are guaranteed the right to transit the strait.

Trump specified that under any successful treaty, the United States would monitor regional shipping alongside international partners, explicitly noting that Oman, positioned on the southern shores of the strait, would have to play an active role in the process.

"We'll watch over it, but nobody's going to control it - that's part of the negotiation that we have..." Trump added.

Military footprint

The ongoing diplomatic standoff directly impacts a massive military apparatus.

The US military currently deploys approximately 15,000 troops to strictly enforce the naval blockade against Iran.

Additionally, the Pentagon maintains thousands of supplementary forces distributed across regional bases in Gulf states such as Qatar, the United Arab Emirates, and Bahrain.

Heavy US naval vessels, carrying thousands of sailors and Marines, routinely transit the area and utilize port facilities in Oman.

Market reaction

The high stakes of the closed-door negotiations triggered immediate turbulence in global financial markets.

Crude oil prices plummeted by more than 5% instantly following the initial Iranian state TV report of a breakthrough.

However, prices rapidly retraced about a fifth of that drop once the White House issued its formal denial, reflecting deep market anxiety over the frozen energy corridor.