Oil Slides As Qatar Touts 'Talks' Again; Iran Struck Large Crude Tanker Overnight
Iran is said to have struck a Very Large Crude Carrier in the Strait of Hormuz late on Monday, signaling what will likely be the resumption of strikes on foreign vessels seeking to navigate the Strait of Hormuz, after last week's diplomatic talks at the UN failed to produce a breakthrough. Still, for the time being more oil is being shipped through the strait compared to where the situation was for the past many months of war.
Maritime monitor UKMTO indicated the vessel was struck by a suspected unknown projectile, resulting in a fire. The fire looks to have been extinguished quickly, with the crew safe and the vessel underway on its transit.
On Tuesday Iran's parliament speaker Bagher Ghalibaf has reiterated that America should know that "in a region where we don't sell oil, no one will sell oil." He followed with, "If our security is not ensured, no infrastructure will be safe."
via IRNA
Ghalibaf further described during a parliament session that "the era of intimidation and threats is over" and that the Islamic Republic would escalate its responses.
But he also echoed prior words of Iranian President Masoud Pezeshkian, who at last week's UN General Assembly said that Iran still seeks diplomacy while asserting its rights.
Similar messaging has been newly issued on the Iranian military front, with Major General Yahya Rahim Safavi, who is a senior advisor to the Supreme Leader, saying that the armed forces stand ready to expand the confrontation to new fronts.
Referencing the ongoing Houthi conflict with the Saudis, wherein the Iran-aligned rebel group has captured Yemen's Red Sea coast, Safavi stated, "The addition of the Bab al-Mandab Strait would change the scene of the war," as quoted in IRIB News.
While some reports have long pointed to the likelihood that IRGC advisers assisted the Houthis this month, the high-ranking general suggested Tehran could get more directly involved, or could tell the Houthis to close the Bab al-Mandab Strait to all foreign vessels.
So far, Houthi statements have sought to assure the rest of the world, particularly Europe, that international vessels can still safely pass through, with the exception of Saudi or Israeli-linked ships.
On the question of Strait of Hormuz transit, The Wall Street Journal summarizes the conclusions of several monitoring firms:
Ghalibaf's aforementioned threat of "no one will sell oil" promises to change this equation - though clearly US Marines are directly involved in trying to protect shipping.
"So far this month, crude exports from major Middle Eastern producers including Saudi Arabia, Iraq, the U.A.E. and others—moving through Hormuz and alternative routes—have risen to almost 13 million barrels a day," WSJ notes. "That is the highest total since February, when the region exported nearly 19 million barrels a day, according to ship tracker Huax."
As for talks, Iran has insisted there are no direct talks and that the nuclear file is not up for negotiation, at least until after the war ends with a ceasefire deal in place.
According to a summary of a press briefing by Qatari Foreign Ministry spokesman Majed al-Ansari on Tuesday::
And like clockwork: WTI futures are on session lows, having added to losses after comments from the Qatar Foreign Ministry on possible US-Iran solutions.
Rial at record low against US dollar, with traders in Tehran exchanging more than 2.5 million rials to the U.S. dollar.
via Newsquawk
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[ H/T ZeroHedge ]
Iran is said to have struck a Very Large Crude Carrier in the Strait of Hormuz late on Monday, signaling what will likely be the resumption of strikes on foreign vessels seeking to navigate the Strait of Hormuz, after last week's diplomatic talks at the UN failed to produce a breakthrough. Still, for the time being more oil is being shipped through the strait compared to where the situation was for the past many months of war.
Maritime monitor UKMTO indicated the vessel was struck by a suspected unknown projectile, resulting in a fire. The fire looks to have been extinguished quickly, with the crew safe and the vessel underway on its transit.
On Tuesday Iran's parliament speaker Bagher Ghalibaf has reiterated that America should know that "in a region where we don't sell oil, no one will sell oil." He followed with, "If our security is not ensured, no infrastructure will be safe."
via IRNA
Ghalibaf further described during a parliament session that "the era of intimidation and threats is over" and that the Islamic Republic would escalate its responses.
But he also echoed prior words of Iranian President Masoud Pezeshkian, who at last week's UN General Assembly said that Iran still seeks diplomacy while asserting its rights.
Similar messaging has been newly issued on the Iranian military front, with Major General Yahya Rahim Safavi, who is a senior advisor to the Supreme Leader, saying that the armed forces stand ready to expand the confrontation to new fronts.
Referencing the ongoing Houthi conflict with the Saudis, wherein the Iran-aligned rebel group has captured Yemen's Red Sea coast, Safavi stated, "The addition of the Bab al-Mandab Strait would change the scene of the war," as quoted in IRIB News.
While some reports have long pointed to the likelihood that IRGC advisers assisted the Houthis this month, the high-ranking general suggested Tehran could get more directly involved, or could tell the Houthis to close the Bab al-Mandab Strait to all foreign vessels.
So far, Houthi statements have sought to assure the rest of the world, particularly Europe, that international vessels can still safely pass through, with the exception of Saudi or Israeli-linked ships.
On the question of Strait of Hormuz transit, The Wall Street Journal summarizes the conclusions of several monitoring firms:
Ghalibaf's aforementioned threat of "no one will sell oil" promises to change this equation - though clearly US Marines are directly involved in trying to protect shipping.
"So far this month, crude exports from major Middle Eastern producers including Saudi Arabia, Iraq, the U.A.E. and others—moving through Hormuz and alternative routes—have risen to almost 13 million barrels a day," WSJ notes. "That is the highest total since February, when the region exported nearly 19 million barrels a day, according to ship tracker Huax."
As for talks, Iran has insisted there are no direct talks and that the nuclear file is not up for negotiation, at least until after the war ends with a ceasefire deal in place.
Iranian Foreign Minister Abbas Araghchi denied reports that Tehran has shifted its position in talks with the US, telling state media Monday that there has been no discussion of the nuclear issue, "let alone flexibility."
"Iran's position has not changed at all," he told IRNA… https://t.co/FXcKMMvoTj
— Drop Site (@DropSiteNews) September 29, 2026
According to a summary of a press briefing by Qatari Foreign Ministry spokesman Majed al-Ansari on Tuesday::
- Qatar and other mediators are still delivering messages between Iran and the United States and Doha will continue these efforts.
- Mediators are holding meetings and exchanging possible solutions between the two sides to end the seven-month conflict.
- The US-Israeli war on Iran has inflicted a heavy toll on the global economy and the upcoming winter season will make the situation worse with energy shipments largely blocked.
- Qatar condemns Israeli comments on taking over territory in Lebanon and Gaza and demands unimpeded aid to reach the beleaguered Palestinians.
- The Israeli government is trying to force “a new reality” in the occupied West Bank that contradicts the Oslo accords.
- Qatar welcomes actions by the European Union and other countries against illegal Israeli settlements in occupied Palestinian territory.
And like clockwork: WTI futures are on session lows, having added to losses after comments from the Qatar Foreign Ministry on possible US-Iran solutions.
Rial at record low against US dollar, with traders in Tehran exchanging more than 2.5 million rials to the U.S. dollar.
More Latest Developments
via Newsquawk
- Iran's Foreign Minister Araghchi said Tehran discussed proposals with Qatari mediators to present to the US, and response is to be relayed to Tehran through Qatari mediators, adds conditions set by Supreme Leader must be met to reopen Strait of Hormuz. If the US wants a deal or peace, Iran has offered a solution. He will fly to Tehran in a few hours, and the Qataris will know how to reach us whenever they have the answer. Expects US response on Tuesday. Communications and messages exchanged by Qatari and Pakistani mediators have always been, but now they have taken a more serious form due to the plan presented by Iran.
- Iranian Foreign Minister Araghchi said Iran's positions have not changed and conditions for reopening the Strait of Hormuz are clear, while their position on other matters is clear. Hopeful the US' final answer will be conveyed via Qatari "by tomorrow".
- Iran's Foreign Ministry spokesperson Baghaei said media reported about the content of consultations with the Qatari mediator are baseless speculation, noting such accounts have no basis in reality and no discussion of the details of the issues took place.
- Iran Foreign Ministry Iranian delegation met with Qatar mediator on Monday afternoon at the UNGA, adds media speculation on Qatar talks is false and that there were no talks held on detailed issues with Qatari mediator. said:. Iran delegation will depart New York for Tehran on Monday night.
- Iranian MP Ebrahim Rezaei said no negotiations will begin until the US fulfils its commitments in the Islamabad understanding, while he stated that Iranian diplomats lack permission for bilateral or trilateral talks in the current situation. said:. US failed to release blocked funds after Islamabad deal.
- UN Secretary-General Guterres requested in a meeting with Iran's Foreign Minister Araghchi for a continuation of negotiations to achieve peace, according to Fars News Agency.
- US President Trump posted "Axios just released a story that “Trump” offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING! Axios’ story, like most others, is a HOAX". Full post "Axios just released a story that “Trump” offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING! Axios’ story, like most others, is a HOAX, used only for purposes of satisfying their Trump Derangement Syndrome. They should withdraw this fake story, IMMEDIATELY!".
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[ H/T ZeroHedge ]
