Trump Bats Down Iran's MoU Narrative & TermsAnd there it is: President Trump himself denies the earlier in the morning return of a 'deal is near' - by taking to Truth Social and rejecting the stated Iranian terms (as delivered publicly in state media sources):Immediately, the expected and familiar spike in oil and the return to pessimism, though at this point there have been no bombs away, after the White House canceled what was to be a third night of strikes (last night):'US-Iran Deal Is Near' Narrative Returns, But Tehran Refuses To Surrender Hormuz LeverageAfter having heard the same line many, many times before - and yet with no result (instead, more often the opposite of sliding into further conflict and escalation) - Pakistan’s Ministry of Foreign Affairs on Friday welcomed the "progress" made between the United States and Iran in indirect negotiations.CNN and other mainstream outlets are reporting on this "hint" that an interim deal taking shape (again). But given the pattern and track record of such reporting, which has consistently proven premature, elusive, and often downright false - it's hard not to have cynicism and to see much of this as but crude propaganda aimed at keeping energy prices down."Both sides welcomed the progress achieved through sustained diplomatic engagement and expressed hope that these efforts will soon lead to a durable understanding and peaceful resolution," according to Pakistan’s readout of a Foreign Ministry call with the European Union's chief diplomat.via AFPAnd yet, the message out of Iran does not suggest positive momentum or the beginnings of any kind of deal taking shape - though it remains that anything is possible (depending on how much either side is willing to 'give up' their respective red lines and firm positions).Iran: Strait is 'Firmly' Under Our Control, Won't Give it UpIran is currently saying the Strait of Hormuz is 'firmly' under IRGC control - an assertion the Pentagon has vehemently rejected, with Iranian Admiral Habibollah Sayyari saying it continues to wield "power" over the Gulf region."The west of the Strait of Hormuz, the strait itself, and the Persian Gulf are under the firm control of the IRGC Navy," Sayyari was quoted as saying in state media. "No vessel can enter without our permission." Another commander also asserted that "We have had and continue to have power in the region" - batting down Trump's words which say Iran's military has been utterly defeated and decimated at this stage.CNN Claims MoU Signing In Geneva Planned: Really?But again, returning to the optimistic Friday reports, which may have no basis in reality whatsoever (time will tell), CNN is going so far as to report on the venue of a signing ceremony for a Tehran-Washington Memorandum of Understanding:A signing ceremony for a memo of understanding with Iran would most likely be held in Geneva, Switzerland, three sources told CNN on Friday. That signing could take place as early as Sunday, according to a person familiar with plans.That comes after US President Donald Trump on Thursday touted a “great settlement” that could resolve the war with Iran, suggesting it would be finalized in the coming days. Trump said he anticipated a signing ceremony for the document soon, potentially in Europe, to be attended by Vice President JD Vance. However, Iranian officials have yet to confirm an agreement has been reached.Two sources with knowledge of the diplomatic talks said the signing ceremony would be held in Geneva – not far from where Trump and a US delegation will attend a G7 summit next week in France. One of those sources said a signing ceremony would mark the start of “phase two” of diplomatic talks, as officials work through the implementation of the memo of understanding.Multiple sources said the memo is being called the “Islamabad declaration,” in recognition of the key mediating role Pakistan played. But nothing has been confirmed, and an Iranian source suggested the Austrian capital Vienna was also being considered.According to reports from Iran, the proposed deal may be even more scandalous than what was reported last night.