Oman has delayed a planned meeting between Iran and Gulf states regarding the Strait of Hormuz, as regional tensions and oil prices rise.

Oman has postponed a scheduled meeting in Muscat between officials from Iran and several Gulf countries aimed at addressing the future control of the Strait of Hormuz. The government stated the delay was made in the interests of consensus. The United States was not expected to attend the talks, which were intended to address the ongoing disruption of oil flow through the critical waterway.

Regional Tensions and Oil Markets

The postponement coincides with rising global oil prices, with Brent crude reaching approximately $108 per barrel on Monday, the highest level in nearly four months. U.S. crude prices also climbed, trading above $103.26 per barrel, marking a more than 20% increase over the past month. These market pressures are exacerbated by intensified fighting in Yemen, where Iran-backed Houthi rebels have captured additional territory near the Bab al-Mandab Strait, including the Hanish islands and the port city of Mokha.

Diplomatic Context

Dania Thafer of the Gulf International Forum noted that the proposed talks were framed similarly to a previous memorandum of understanding between the U.S. and Iran that did not proceed. While the U.S. is absent from the current discussions, five of the six Gulf Cooperation Council countries were expected to participate, with Bahrain absent. Meanwhile, Iran’s Foreign Ministry has denied U.S. allegations of involvement in a recent attack on a Saudi Arabian pipeline, labeling the claims as false.