Qatar says diplomatic talks are advancing toward easing US-Iran conflict

Qatar reported that diplomatic contacts involving Qatar, Pakistan and Oman have progressed to a very advanced level, helping to shuttle draft proposals between the United States and Iran. President Donald Trump asserted that negotiations were underway, citing pressure from Iran, Saudi Arabia, the United Arab Emirates and Qatar, but Iranian officials rejected the claim, saying they are only discussing the strait with Oman.

The announcement prompted Brent crude prices to drop more than 2%, reflecting optimism about a possible deal to lift the blockade of the Strait of Hormuz, which continues to see limited traffic and a recent attack on a bulk carrier. Treasury Secretary Scott Bessent indicated a potential agreement could be reached within days to reopen the waterway. Meanwhile, the United States faces concerns over depleted long-range missile stocks, and Iran seeks full control over inbound shipping, a move that would shift regional power balances.