Iran Denies 10-Day Ceasefire Amid US Military Actions

Iran has denied reports of a 10-day ceasefire despite a temporary halt in hostilities with the U.S., which ceased strikes on July 22, 2026. Negotiations are currently ongoing with Oman regarding the Strait of Hormuz, vital for global oil supply, while direct talks with the U.S. are not taking place. Meanwhile, oil prices dropped by over 7% following the ceasefire announcement, reflecting investor optimism despite underlying tensions. This pause is significant as it highlights the potential for improved conditions that can affect oil markets and global supply chains.