Oman postpones regional talks on Strait of Hormuz 'in the interests of consensus'; oil prices jump to near four-month high

Oman has postponed regional talks on the Strait of Hormuz, citing the need for consensus among participating nations, including Iran. This decision comes as oil prices surged to near four-month highs, with Brent crude reaching approximately $108 per barrel amid escalating tensions in the region.

AP News+1 source14 September 2026 · 08:20 UTC

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Oman has postponed a crucial meeting regarding the Strait of Hormuz, originally set for Monday in Muscat, to foster consensus among regional stakeholders, including Iran.

Foreign Minister Badr Albusaidi stated the decision was made in the interests of consensus, reflecting the complex geopolitical landscape.²

Iran's foreign ministry official Mohammad Ali Bak confirmed the postponement was at the request of several regional countries, highlighting the delicate balance of interests in the Gulf.

Meanwhile, oil prices surged as tensions escalated, with Brent crude rising 3.2% to approximately $108 per barrel, marking its highest level in nearly four months.⁴

The increase in oil prices is attributed to ongoing conflicts, including intensified fighting between Iran-backed Houthi rebels and Saudi Arabia, which has raised concerns over the security of oil exports.

A Gulf official noted that Saudi Arabia's amendments to the Iran-Oman agreement stem from worries that the emerging deal could adversely affect other Gulf Cooperation Council nations.

The situation remains fluid, with the potential for further escalation as regional powers navigate their interests amidst rising tensions.

Key Insight

“Saudi Arabia submitted amendments to the Iran-Oman agreement, citing concerns that the emerging deal could negatively impact other Gulf Cooperation Council countries. Brent crude rose 3.2% to $107.94 per barrel, up from roughly $72 before the war in Iran began in late February.”