Al Arabiya, the Saudi-owned news outlet, published a leaked draft of a US-Iran agreement on May 21, triggering massive market shifts. Within hours, US stock markets added roughly $500 billion in value, and WTI crude oil plummeted to a two-week low of $96.23 per barrel.
The draft, reportedly mediated by Pakistan, proposed an immediate ceasefire, preservation of navigation rights through the Strait of Hormuz, and a phased lifting of US sanctions on Iran.
By May 22, Al Arabiya retracted the report, denying it had ever circulated claims of a finalized deal and accusing Iranian media of fabricating the story.
Bitcoin remained stable throughout, hovering near $77,400.