Iran-Gulf talks delayed as shipping attacks deepen oil supply fears
Oman postpones talks with Iran and Gulf states as shipping attacks and a Saudi pipeline shutdown intensify concerns over global oil supplies.
Talks between Iran and Gulf states scheduled for Monday (September 14) have been postponed, setting back efforts to agree on shipping arrangements through the Strait of Hormuz.
Oman’s Foreign Minister Sayyid Badr Albusaidi announced the delay on Sunday, citing the need for consensus. Fars quoted an Iranian official saying Tehran and Muscat agreed to postpone at some regional countries’ request.
Shipping attacks deepen supply concerns
Oil prices climbed more than 3% on Monday, with shipping in the strait still exposed to attacks.
United Kingdom Maritime Trade Operations reported that a projectile struck a vessel in the strait on Sunday, causing a fire and forcing its crew to evacuate.
Iran separately reported one person killed and four wounded aboard an Iranian commercial vessel.
Commodity-vessel transits through Hormuz fell below 10 daily over the weekend, according to preliminary tracking data that excluded ships with tracking transponders switched off.
Saudi pipeline remains shut
Saudi Arabia’s 1,200-kilometre east–west pipeline remained shut after an attack. Traders and Saudi buyers told Reuters that stocks at Yanbu could sustain exports for five to seven days. A prolonged closure could jeopardise 4% of global oil supply. Repair estimates ranged from days to weeks.
Iranian Foreign Minister Abbas Araqchi said any agreement with Oman would not reopen the strait unless Washington met Tehran’s demands.
Saudi Crown Prince Mohammed bin Salman had requested US military assistance against the Houthis but received only an offer of intelligence support, Reuters reported.
Source: Reuters
