Iran-Gulf Hormuz Talks Set

Iran’s foreign minister is expected to meet Gulf Cooperation Council counterparts from Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain and Oman in Oman on Monday to discuss the Strait of Hormuz. Iran’s Foreign Ministry said the talks are intended to “promote better understanding among the countries of the region.” Oil prices fell on signs of diplomacy over Hormuz, even as futures posted weekly gains tied to the wider Middle East conflict. Yemen’s Iran-backed Houthis have increased attacks on Saudi facilities and advanced near the Bab al-Mandeb Strait.