Qatar: Iran-Oman bilateral Hormuz agreement needed before US-Iran talks

Qatar’s Foreign Ministry spokesperson, Majed Al-Ansari, said the mediators are waiting for Oman and Iran to reach a bilateral agreement on the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply, before returning to broader United States (US)-Iran talks.

Additional remarks

Invitation is still open for Iranian delegation to visit on pilots issue, Iran has not responded.

Iran and Qatar are in direct contact on the matter of Iranian pilots.

Iranian request for ICRC involvement in Iranian pilots issue is a "media ploy".

Agreement over the Hormuz would make it much easier to resume the US-Iran talks.

Iran-Oman discussions have become a key step toward restarting the wider diplomatic process. 

Market reaction

There has been no immediate reaction is seen in oil prices following remarks from Oman regarding Iran-Oman talks. At press time, the WTI Oil price holds onto Monday's gains near $84.00.