Qatar Says Oman-Iran Talks Reach Critical Juncture
Talks between Oman and Iran have reached an advanced stage, according to Qatar's Foreign Ministry spokesperson Majed al-Ansari. Speaking at a press conference on Tuesday, he said the negotiations were at a 'critical juncture' and stressed that Doha supports all efforts to ease tensions in the region.
Al-Ansari emphasized that as mediators, they want the Strait of Hormuz reopened as soon as possible. He also stated that Qatar has received positive feedback from both Oman and Iran and supports any arrangement that guarantees the security of the Strait of Hormuz and freedom of navigation.
The comments from al-Ansari led to a sharp decline in West Texas Intermediate (WTI) Oil prices, which fell from an intraday high of $83.57 on Tuesday. At the time of writing, WTI trades around $81, holding most of Monday's 6.66% gain.