Attack Postponed, Door Reopens for Iran Diplomacy
US President Donald Trump stated that negotiations with Iran would begin on Monday after Washington postponed plans for a new strike. This move has revived hopes for a diplomatic resolution to the conflict that has disrupted global energy supplies.
Trump said talks would start on Monday afternoon but did not disclose the location or the parties involved. He noted that the decision to delay the strike was made at the request of Saudi Arabia, the United Arab Emirates, Qatar, and Iran.
According to Trump, an agreement covering the reopening of the Strait of Hormuz and the denuclearization of Iran is drawing closer. This statement came a day after Trump said the US was ready to launch a major military operation against Iran.
Hopes for a diplomatic breakthrough immediately put downward pressure on oil prices. Brent crude fell 4.6% to around US$83.96 per barrel, while US crude dropped approximately 4.7% to US$80.60 per barrel.
The latest proposal reportedly includes reopening the Strait of Hormuz, halting attacks in the region, and ending attacks by Iran-backed militias against Arab Gulf states and Jordan. The US would also reportedly end its naval blockade and allow Iran to resume oil exports.
However, no official agreement has been reached yet, and risks to shipping security remain high. The UKMTO reported an explosion near a tanker at the mouth of the Strait of Hormuz, although the vessel and its entire crew were reported safe.
Meanwhile, Iran and Oman are reportedly close to finalizing a new agreement on managing shipping lanes in the Strait of Hormuz. The deal is considered crucial for maintaining the flow of energy trade while preventing a renewed escalation of tensions.
Source: Newsmaker.id
