US Denies Iran Report on Draft Peace Deal to Reopen Hormuz
The US denied an Iranian state television report on a draft interim peace deal that said maritime traffic through the Strait of Hormuz could return to normal within a month of it coming into effect. “This report from Iranian controlled media is not true and the MOU they ‘released’ is a complete fabrication,” the White House said in a social media post on Wednesday. “Nobody should believe what Iranian state media is putting out.” Oil had dropped on the Iranian report, with Brent falling almost 4% to below $96 a barrel. It’s declined more than 7% this week as traders become increasingly more optimistic there will be an agreement. Ethan Bronner, Bloomberg News Israel Bureau Chief, joins Bloomberg Intelligence Radio to discuss the latest. (Source: Bloomberg)
