Qatar Urges Iran to Show Goodwill and Reopen Hormuz; Brent Settles Near $114

Qatar publicly urged Iran to end threats to the region and reopen the Strait of Hormuz, after mediators delivered a new draft proposal reportedly setting a seven-day sequence of confidence-building steps. Tehran is reviewing the text. Brent settled near $114 on Oct 27; ANZ research put crude flows through Hormuz at roughly 60% of normal. Price and flow figures vary by outlet and are approximate.