Iran's Hormuz Plan Could Lower German Gas Prices

Iran has proposed a plan to the US to reopen the Strait of Hormuz within seven days, potentially easing oil prices. Brent crude currently costs over $105 per barrel, up 70% this year, with the strait blocked for seven months. The proposal was conveyed through mediators at the UN General Assembly in New York, with Iran's foreign minister citing a June framework agreement. The White House confirmed constructive talks, though public rhetoric remains hostile. Both sides face pressure: Iran from war costs, the US from rising fuel prices before November elections. Separately, Huthi attacks on Saudi Arabia's East-West pipeline have reduced flows, prompting France to send troops and radar systems to protect the Yanbu terminal. Analysts say a credible deal could push oil below $100, while further disruptions might raise prices to $120.