Iran Denies Strait of Hormuz Deal, Oil Jumps as Bitcoin Ignores Headlines

Iran has denied President Donald Trump's claim that a deal exists to reopen the Strait of Hormuz, the world's busiest oil route.

Oil prices jumped on the denial, rising about 2.4% to trade near $86.79, while Bitcoin barely moved, adding just 0.08% in 24 hours and sitting near $63,063.

The Strait of Hormuz is a critical chokepoint for global oil supply, with around 20 million barrels passing through it every day, roughly a fifth of the world's oil consumption.

Iran's denial puts an official forecast in doubt, as analysts expect the route to remain restricted into 2027 due to ongoing tensions.