Iran reports intense consultations with Washington via mediators

Iran reported "intense" consultations with Washington through mediators on Monday to prevent renewed hostilities with the United States, a climate that drove oil prices down sharply. Tehran said it is ready to reopen the strategic Strait of Hormuz in two days instead of the original seven-day plan, under conditions. The exchanges via Qatar, a mediator, have intensified to avoid a repeat of the 40 days of intense summer bombardments. Iranian Foreign Minister Abbas Araghchi highlighted the "very active mediator role" of Qatar and Pakistan, while Supreme Leader Mojtaba Khamenei has "conferred certain powers to the government." Brent crude fell 6% to $106 a barrel, down from about $70 before the war began.