Will Iran's Strait of Hormuz plan lower German fuel prices?

Iran has proposed a plan to the US to reopen the Strait of Hormuz within seven days, potentially easing oil prices and fuel costs in Germany. Brent crude currently costs over $105 per barrel, up more than 70 percent since the start of the year. The proposal was delivered through mediators during the UN General Assembly in New York, with Iranian Foreign Minister Abbas Araghtschi saying it could be implemented immediately upon Washington's approval. The White House confirmed "positive and constructive" talks, though no direct negotiations are occurring. Both nations face mounting economic and political pressure, with US elections approaching on November 3. Separately, Huthi attacks on Saudi Arabia's East-West pipeline have damaged the Yanbu terminal, prompting France to send troops and radar systems for protection. Markets remain volatile, with analysts predicting Brent could stay between $100 and $110 unless a credible agreement emerges, which could quickly push prices below $100.