Trump Claims Iran Deal is 'Largely Negotiated' with Strait of Hormuz Opening

US President Donald Trump has claimed that a deal with Iran, including the reopening of the Strait of Hormuz, is 'largely negotiated' . The Strait carries roughly 20% of global seaborne crude, making any change in its status a first-order input to oil pricing and to energy equities such as XOM, CVX, and refiners VLO and PSX.

Iran's state-affiliated news agency disputed Trump's framing, asserting that the Strait will remain under Iranian control . The contradiction leaves traders without confirmed terms, sustaining elevated headline risk across crude benchmarks and war-risk shipping insurance premiums.

A fragile US-Iran ceasefire has been in place since April 8 , and prior Trump-era Middle East announcements have repeatedly been followed by reversals. Until terms are made public, the practical near-term impact on XLE and broader risk assets remains a function of how Tehran responds in the coming days.