Iran diplomacy oil prices eased after Iranian Foreign Ministry spokesperson Esmaeil Baghaei said mediators stayed active and Tehran received proposals in recent days.
Baghaei said Tehran would weigh diplomacy based on its national interests. He also said Iran had exchanged messages with mediators over recent days. As a result, his comments pointed to open diplomatic channels despite ongoing conflict.
The source article said the ceasefire had collapsed and military strikes had resumed between the two sides. It also said Pakistan, Qatar and Oman kept trying to support contacts between Washington and Tehran. Meanwhile, Baghaei said Iran’s interior minister will visit Pakistan later on Monday.
Iran Diplomacy Oil Prices React
Crude prices fell slightly after Baghaei’s remarks, according to the source article. The move reflected an improvement in broader risk sentiment. However, the article added that risks of further escalation remain high, which could continue to support oil prices.
Strait of Hormuz Stance Unchanged
Baghaei also repeated Iran’s stance on the Strait of Hormuz. He said the country’s sovereign rights over the waterway are non-negotiable. Moreover, the source article said control and navigation through the strait have become a main sticking point in the crisis.
The comments left markets balancing a small drop in crude with the risk of more tension in the region.
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Source: InvestingLive
