Iran and Gulf states to meet to secure Hormuz deal - report.
Gulf foreign ministers are reportedly planning to meet their Iranian counterpart in a push by Oman and Iran to secure buy-in for a deal temporarily managing shipping through the Strait of Hormuz.
Source: Sharecast
The gathering, an Omani initiative, is scheduled to be held on Monday in the Omani coastal city of Salalah, according to the Financial Times, which cited two people briefed on the matter.
It would be the first meeting between the top diplomats from the six-member Gulf Cooperation Council and a senior Iranian official since the US and Israel launched the war against the Islamic republic in February.
One of the sources told the FT the details were not finalised, but that a number of states had confirmed and it was expected to go ahead.
"For Iran and Oman it is about getting the GCC on board to try and use that to get the US to lift its blockade on Iranian ports," said one of the people briefed on the matter. GCC states, meanwhile, want to ensure that "whatever is agreed is temporary and they are able to get ships in and out.
The GCC includes Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman. Saudi Arabia and the UAE have maintained diplomatic communications with Iran, despite Iranian attacks against them.
Oil prices eased following the report and by 1245 BST, Brent crude was down 3% at $104.40 a barrel and West Texas Intermediate was 2.7% lower at $99.67.
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