The volatility began shortly after a Bloomberg headline suggested Iran’s supreme leader had authorized talks on previously non-negotiable issues. This claim quickly outpaced remarks from President Masoud Pezeshkian, who noted only that the government had received additional negotiating authority without specifying the scope. Doubts regarding the accuracy of the initial report triggered a selloff, which was exacerbated by an Al Jazeera report alleging Washington had approved a draft agreement via Qatari mediators.

While reports from Al Araby Al Jadeed hinted at a potential exchange involving nuclear concessions and frozen assets, a senior Iranian official dismissed the notion of a breakthrough. Tehran maintains that existing conditions must be satisfied before the Strait of Hormuz can reopen or nuclear discussions can proceed. Qatar has confirmed that proposals are under review, yet no formal agreement exists. The chaotic trading session, which saw Brent recover nearly $3 from its intraday low, suggests that automated orders and momentum-based strategies amplified the reaction to the unverified diplomatic rumors.