Iran Denies Report It Will Reopen Hormuz Strait Within 7 Days

The market reaction — flat equity futures and crude below $90 — suggests traders are pricing de-escalation even as Iran's denial leaves the diplomatic signal unresolved. The more durable variable may be Saudi Arabia's East-West pipeline restart and Yanbu's potential return to exporting, which would ease supply concerns independently of any Hormuz reopening. Whether the denial hardens into a prolonged closure, or the pipeline restart proceeds, is the open question for energy and freight markets.