Iran has notified the U.S. that it is prepared to reopen the Strait of Hormuz, according to media reports. Oil prices have fallen
To do this, the U.S. military will have to lift the blockade of Iranian ports and ships and cease hostilities in the Strait
Photo: Svet foto / Shutterstock
Iran has notified the administration of U.S. President Donald Trump of its readiness to open the Strait of Hormuz within seven days—for this to happen, the U.S. military must lift its blockade of Iranian ports and ships and cease hostilities in the strait, according to the Chinese website 47news.jp, citing a high-ranking Iranian government official.
The report came ahead of the meeting between Trump and Chinese President Xi Jinping in the U.S. on September 24—China is one of the largest buyers of Iranian oil.
Amid this news, November Brent crude oil futures fell to an intraday low of $98.7 per barrel. The October contract for U.S. WTI crude fell 1.14% to $94.7 per barrel.
Also, despite the fact that on Sunday Iran and the U.S. exchanged new threats amid the deadlock in the Middle East, U.S. President Donald Trump said he is open to meeting with Iranian President Masoud Pezeshkian, who is expected to arrive in New York this week to attend the UN General Assembly, according to Reuters.
This article is being updated
This article was AI-translated and verified by a human editor
