White House Calls Iran Media Reports On Peace Deal A ‘Complete Fabrication’ — ‘Nobody Should Believe…’

• According to a Reuters report, Iranian state media claimed earlier on Wednesday that it had obtained a draft of an initial framework of an MoU aimed at ending the war between the U.S. and Iran.
• The U.S. would withdraw its military forces from the vicinity of Iran and lift the ongoing naval blockade, the report added.
• Iran would work to restore commercial shipping through the Strait of Hormuz to pre-war levels within a month of the deal, it said.

The White House on Wednesday pushed back against Iranian state media’s reports on a potential peace deal and a draft of the memorandum of understanding (MoU), calling it a “complete fabrication.”

“This report from Iranian controlled media is not true and the MOU they ‘released’ is a complete fabrication. Nobody should believe what Iranian state media is putting out. FACTS MATTER,” White House’s Rapid Response account said in a post on X.

This comes ahead of a cabinet meeting scheduled by the Trump administration on Wednesday.

What Did Iran’s State Media Claim?

According to a Reuters report, Iranian state media claimed earlier on Wednesday that it had obtained a draft of an initial framework of an MoU aimed at ending the war between the U.S. and Iran.

According to the report, the U.S. would withdraw its military forces from the vicinity of Iran and lift the ongoing naval blockade. Iran would work to restore commercial shipping through the Strait of Hormuz to pre-war levels within a month of the deal.

If the two parties reach a final deal within 60 days, the memorandum would be approved as a binding United Nations Security Council resolution, the report added.

Crude Oil Prices Decline

Crude oil prices eased on Thursday amid reports that Iran would restore traffic through the Strait of Hormuz. U.S. West Texas Intermediate (WTI) futures expiring in July fell 3.3% to hover around $90.79 a barrel. Brent crude futures expiring in July were down 2.48%, at $94.27 a barrel.

The United States Oil Fund ETF (USO) and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) were down about 2% at the time of writing.

Meanwhile, U.S. equities were mixed in Wednesday morning’s trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 0.15%; the Invesco QQQ Trust ETF (QQQ) fell 0.43%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.34%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘bullish’ territory.

Also See: APPS Stock Soars 53%, On Track For Best Single-Day Gains In 11 Months — Why Did BofA Turn Bullish On Digital Turbine?

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