Iran to Meet Gulf Arab States in Oman as Brent Holds Near $104 Amid Hormuz Standoff
Updated
Updated · The New York Times · Sep 13
Iran to Meet Gulf Arab States in Oman as Brent Holds Near $104 Amid Hormuz Standoff
3 articles · Updated · The New York Times · Sep 13
Summary
Monday’s Oman meeting will bring Iranian officials together with representatives of some Gulf Arab states as the U.S.-Israel-Iran war spreads across the region.
The talks come with efforts to reopen the Strait of Hormuz stalled and Iran still firing on ships there, tightening pressure on Gulf exporters and global energy markets.
Yemen has become a new flashpoint after Iran-backed Houthis seized Mokha port and Perim island in the Bab el-Mandeb Strait, attacked Saudi energy sites and tried to block Saudi shipping.
Saudi Arabia shut its East-West Pipeline on Friday after drone strikes from Iraq, cutting a key export route that had helped offset Iran’s effective Hormuz blockade.
Brent crude briefly topped $110 last week before easing to about $104 on Sunday, underscoring how the conflict is feeding a wider oil and gas crisis.
With Trump threatening heavy strikes, will Iran's controversial demand for shipping fees derail the fragile Oman talks to reopen the Strait of Hormuz?
As war-risk insurance skyrockets, could a temporary shipping deal in Oman actually worsen the global energy crisis by legitimizing proxy blockades?
Can a new Saudi-led coalition secure global shipping, or will Houthi control of key islands permanently cripple the Red Sea trade route?
Strait of Hormuz Blockade 2026: Oil Shock, Regional Realignment, and the Collapse of US-Gulf Security
Overview
The 2026 Gulf crisis began with US-Israeli airstrikes that killed Iran’s Supreme Leader, leading to Iranian retaliation and the closure of the Strait of Hormuz. The US responded with a naval blockade, but a brief June ceasefire allowed temporary economic recovery before collapsing over unresolved disputes and renewed attacks. By September, Houthi forces, backed by Iran, seized key Red Sea positions and, along with pipeline shutdowns, triggered a double-blockade that sent global oil prices soaring. These shocks forced Gulf states to rethink security alliances and pursue direct diplomacy with Iran, culminating in the fractured Muscat Summit as regional unity faltered.