Gulf Stocks Rally on Iran De-escalation Hopes Despite No Signed Deal

📉 GULF MARKETS — Stocks rising on a deal nobody has signed yet. 📌 LOOK CLOSER: Tehran publicly denied deal parameters today, Hormuz stays blocked, and Houthis just re-entered against Riyadh — yet Gulf equities are pricing de-escalation. That gap between market sentiment and operational reality is a trap. If Iran's denial holds and CENTCOM's vessel count climbs, today's rally becomes tomorrow's correction. Watch the spread between equity optimism and oil prices — they can't both be right for long.