Oman Postpones Iran-Gulf Hormuz Talks; Brent Surges Past $107 as De-escalation Hopes Fade

Oman's Foreign Minister Badr Albusaidi announced on X that the regional meeting set for Monday, Sep 14 in Salalah between Iran and the six-member Gulf Cooperation Council plus Iraq had been postponed, saying the delay was meant to "ensure appropriate conditions for constructive dialogue that can help achieve sustainable understandings, support regional security and stability." The gathering -- to be held without US participation -- was intended to agree on route maps and a voluntary payment framework for navigational safety and environmental protection through the Strait of Hormuz, building on the Aug 26 Oman-brokered transit corridor. Bloomberg and NPR reported the Trump administration had privately told Gulf officials it wants any future US-Iran negotiations refocused on Tehran's nuclear program rather than reopening the strait, a stance that may have complicated Omani efforts to line up the meeting. The postponement removed the week's expected de-escalation catalyst: Brent crude, which had been pricing in a modest discount ahead of the talks, jumped to $107.54/bbl on the November contract (+2.8%) and to $106.69 spot (+1.99%), with intraday prints as high as $107.82; WTI rose to roughly $102-103/bbl. Saudi Arabia's East-West pipeline remained shut following the Sep 10-11 drone strikes. Separately, Al Jazeera highlighted a widening gap between US claims and tanker-tracking data: President Trump said the US maintains "total control" of the strait and Energy Secretary Chris Wright said roughly 10 million barrels/day -- "two-thirds or north of two-thirds" of pre-war flow -- were moving under the US-led escort regime, while independent tanker trackers counted just 14 vessel transits over the weekend, versus a pre-war daily average of over 100 ships carrying roughly 20 million barrels.